Category: Buying a Home

An Overview Of Income Vs. Debt Ratio (Marlboro Buyers or others getting Pre-approvals)

Financial information plays a big role in mortgage pre-approvals. All finance companies evaluate your assets, income, credit and debts. These determine whether you qualify for a mortgage and for what amount. This article includes an overview of income vs. debt ratio for Marlboro Home Buyers and others looking to get a pre-approval.

Earnings Analysis

Lenders will look at your total monthly earnings. This includes only items that can be verified. Salaries are the most common source of income. Mortgage companies will require paperwork (such as W-2 forms) for the previous 2 years, giving them a picture of pattern. They may inquire about any unusual items, such as fluctuations in wages or inconsistent amounts. Alternate sources of income may include alimony, investment properties, and stocks. Anything that you would like counted must have valid documentation. A history of earnings and possibility of future earnings can be important. The documentation standard may vary among lenders and certain exceptions may also be allowed. It is important to tell your mortgage consultant about all possible income sources to figure out what can or cannot be used.

What Is Considered Debt

Debt describes all current obligations such as charge cards and installment loans. The exact payment amount on loans and other structured debt are used. For adjustable debt like credit cards, minimum monthly payments are used in the calculations. These amounts are usually listed in your credit report. Some companies may be willing to exclude debts with under one year left or that you can verify someone else is responsible for. The figures are combined to calculate total monthly debt.

An Overview Of Income Vs. Debt Ratio For Marlboro Buyers and others looking for financing or getting a  Pre-approval

Lenders compare the monthly income to debt to come up with the income vs. debt ratio, which must remain under set limits. Additionally, mortgage payments plus your monthly debt must also remain under a certain percentage in order to secure approval. The exact percentage varies among financing companies and for each program.

For example, some lenders may require your monthly mortgage payment (principal, interest, taxes, and hazard insurance) not to exceed 28 percent of your gross monthly income. They may also not allow total debt to exceed 40 percent of monthly income. Based on this example, a borrower making 60,000 annually (5,000 monthly) may be allowed up to a 1,400 per month mortgage payment and 2,000 per month in total debt. Bear in mind that this is strictly an example and includes only one part of the financial analysis that may be performed. There are many other factors, such as credit rating and loan program requirements. It is important for Marlboro Buyers and others to consult with a local mortgage company for advice on income vs. debt ratio when  financing or getting a  pre-approval to get specific details relevant to your personal situation.

If you need help getting a pre-approval or for any other real estate related information, please contact Sujatha Bhaskara at Keller Williams Realty by calling 732-319-1340 or by emailing at  For more information on what’s happening in the Marlboro, NJ real estate market, sign up to become a Marlboro Market Insider today!


Marlboro Buyer Looking at Homes Advice

Scheduling and viewing properties may be somewhat cumbersome. There are different things to consider when selecting properties, prior to visiting, and during property tours. The Marlboro buyer looking at homes advice below can help make the process less cumbersome.

Choosing Options

Keep In Mind Your Price Range

It can be heart breaking to see homes that are out of your price range. This will also waste considerable time and energy. Get a loan pre-approval and know what you can purchase before scheduling showings. This is probably the most important thing to keep in mind for Marlboro buyers looking at homes.

Consider the Features

Create a wish list with things that are necessary versus those that are desired but not critical. Keep in mind that no property may contain everything on your list and that you may need to identify amenities that you can live without. Ask your real estate professional for advice on what different amenities may cost or are usually offered in homes within your price range. Things like carpet, paint colors, appliances etc can be easily changed. So, if a house has pretty much everything you are looking for but just not the hardwood floors you would have liked, or has paint that is not up to your liking – you may still want to consider making an offer on it. Ask your agent on what you can expect in homes in your price range.  Knowing this information prior to showings will help make the process more efficient.

Research and Planning


Glance through virtual tours of homes on the Internet ahead of time and eliminate ones that off the bat do not match your criteria. Think about driving by the homes ahead of time. Understand different areas. In markets with many available options, narrowing down options will make the time spent seeing homes in-person more efficient. To make sure you don’t miss out on your perfect home, focusing on the homes and neighborhoods that are a good match for you is critical especially in this market when nice homes, which are priced right are getting offers on the very first day of being listed.

Seeing Homes Back-to-Back

Make good use of your time by combining visits to multiple properties back to back. Your real estate representative will decide the right order for viewing them based on the seller’s availability. Try not to be too ambitious as you can get information overload. Try to limit the number of homes to 3-5 per showing.

What to Do During Visits

Marlboro buyer looking at homes advice would not be complete without guidance for during and after showings. If you immediately realize that you do not like a property, do not waste any additional time seeing it. This allows you to spend additional time in homes that you do like. Write down your thoughts during or shortly after viewing a listing. List items that you liked and did not like. These personal notes may help may help refresh your memory later. It is not necessary to see and remember every aspect of a property in one visit. Use first showings to narrow down your list and return for second visits for top choices. You may catch different things upon seeing a listing a second time or at a different time of day.

More Marlboro Buyer Looking at Homes Advice

Real estate professionals know the area and understand how to best arrange property visits. Choose a broker that fits your needs and rely on that agent to guide you through the process. For additional information, please contact Sujatha Bhaskara at Keller Williams Realty by calling 732-319-1340 or by emailing at  For more information on what’s happening in the Marlboro, NJ real estate market, sign up to become a Marlboro Market Insider today!

Top 5 reasons to live in New Jersey

The Garden State is most certainly the butt of many jokes across the nation. Although it may be “the armpit of the country” and focal point of numerous questionable television series, don’t rule this little underdog out! There are plenty of reasons why New Jersey is a great place to call home. Here are my top 5 reasons why you should live in New Jersey:

The best of both all worlds

Are you a beach bum? Or a snow bunny? Do you prefer the countryside or the big city? Whatever it may be, New Jersey has it all. The mountains, the shore, Atlantic City, beautiful parks, historical sites, close proximity to New York City and Philadelphia, pretty much anything you could think of, New Jersey has got it. Living in NJ, you can spare yourself from the monotony of a dull life.

Break out the books

When it comes to education, New Jersey is top notch. It consistently scores at the top when it comes to graduation rates and test scores. There are tons of schools with high quality educators. There are also well over two dozen highly accredited colleges and universities, including the prestigious Princeton University and Rutgers University.

Satisfy your appetite

Diners galore, New Jersey is a foodie’s dream. It is home to the famous pork roll, egg and cheese sandwich on some of the best bagels you’ll ever eat. The pizza is divine and the produce is even better. The tomatoes, corn, cranberries and other produce options are the reason why we are called the Garden State, and rightfully so.

Get out and do something

New Jersey will never let you get bored, with tons of activities and attractions to keep yourself busy. Amusement parks and water parks are a great way to spend those summer days. Winter time calls for some skiing at the local mountains. There are tons of entertainment venues offering concerts and shows year-round. Sports fans will also be pleased to see New Jersey’s own NHL team, the Devils. Even the New York Jets and New York Giants call the Garden State home.


There’s nothing like being one of the most unpopular states to really bring people together. The bond that has been forged amongst the diverse New Jersey population is unlike any other, and this is something that I personally wouldn’t trade for the world.

What’s your favorite thing about life in New Jersey?

Sujatha Bhaskara, is a New Jersey resident and local realtor who can help you find your new home in New Jersey.  She can be reached at 732-319-1340 or

Benefits of purchasing Marlboro homes in 2012

Benefits of Purchasing Marlboro NJ homes in 2012It is a bit tough to consider purchasing real estate with all of the negative news on the real estate market. When you review the facts, it is actually a great time to purchase real estate. The following are benefits of purchasing Marlboro NJ homes in 2012.

Benefits Of Purchasing Marlboro NJ Homes In 2012

Favorable Home Loan Rates

Interest rates are at an all time lows. Most buyers obtained fixed rates under four percent during the first half of the year. Loan rates have a significant impact on recurring loan payments. By obtaining a low rate, home buyers spend less money on a property or are able afford a more expensive property. Rates will not stay low for the long term, so buyers should act sooner rather than later to to fix in a low rate for the full term of their home loan.

Property Prices

The decreased real estate market means that real estate is sold at a lower price than they were at the peak of the market. Like stocks, it is more beneficial to purchase at a low price than a high one. Real estate in the usually appreciates over time. By buying on the low end, there is also more potential for appreciation.

The Ability to Upgrade to a More Expensive Home

When real estate values decline, it is actually the best time to purchase a more expensive property. Buyers may lose some equity in selling an existing home, but the money saved on the higher priced home should be more than that loss. Many buyers are finding that the reduced prices offer a rare chance afford a home of their dreams.

A Smaller Gap Between Renting and Buying

The cost of rent remain high even though housing prices are low, resulting in a smaller difference between renting and buying. Buying has the added benefit of tax deductions for mortgage interest, municipal taxes, and other expenses. When you also consider the ability to build equity over time, home buying offers both savings and long term growth potential.

Help With Buying a Property in the Marlboro NJ Area

There are many benefits of purchasing Marlboro NJ homes in 2012. If you are ready to take advantage of low prices, low mortgage rates, and the other advantages of purchasing a home, start by contacting a mortgage professional and real estate buyer’s agent. Contact Sujatha Bhaskara at Keller Williams Realty (732-536-9010, for additional information on the real estate market and assistance with your real estate buying needs.

I invite you to begin your Marlboro, NJ home search at, a great buyer resource. Here you can save your favorite properties, set up a custom listing alert for homes in Marlboro that meet your needs, view Real Estate trends in the area, get local Marlboro, NJ school and community information, and much more!

Why should buyers have pre-approvals?

When looking to buy properties, it is natural to be very excited and want to start visiting homes as soon as possible. In that excitement, you may hold off on the important step of starting a mortgage pre-approval. A pre-approval is a preliminary evaluation of your finances and credit worthiness to determine whether you may be approved for financing. It is not a guarantee for a mortgage, but a guess prior to a full mortgage application. Having a pre-approval letter in-hand is important for a variety of reasons. This blog details reasons why buyers should have pre-approvals before visiting New Jersey properties.

Understand Your Options

Financing requirements and mortgage rates change regularly. A pre-approval provides an understanding of the programs and options that you can use, what your up-front expenses will be, and more importantly, what you can purchase. Without this information, you may waste valuable time visiting homes that you can not finance or that are basically beyond your affordability. Identifying your price range also saves you the heartache of visiting and wanting a property that you cannot have. This is one of the most important reasons why buyers should have pre-approvals before visiting New Jersey properties.

Purchase Power

New Jersey properties with highly sought after amenities or the best price tend to move fast. A pre-approval gives you the power to make an offer on that perfect listing. When you prepare an offer, you normally must include a pre-approval letter. This demonstrates to the seller that you are ready, willing, and able to purchase. It is unlikely that a seller would consider an offer and move forward with a buyer without any documentation that a buyer can even obtain a loan. In multiple offer situations, a pre-approval is even more essential.

Saving Time

A pre-approval saves time when making an offer and on the processing of a loan. Most sellers request a pre-approval with offers. Not having one ready will lead to delays in submitting your offer and may result in a missed opportunity. Pre-approvals involve reviewing documentation of income, assets, debts, etc. This can take a couple of days based on whether you have the documentation readily available. Errors in your credit reports can cause additional delays. Starting and addressing this step in advance will also save significant time when processing your loan and achieving a quick closing.

Reasons Why Buyers Should Have Pre-approvals Before Visiting New Jersey Properties

The information above on reasons why buyers should have pre-approvals before visiting New Jersey properties is something to remember when thinking of buying a home. The home buying process can be complicated and stressful to begin with. Being diligent and prepared can reduce the stress and issues encountered along the way. For additional guidance, contact Sujatha Bhaskara at Keller Williams Realty by emailing or calling 732-536-9010.

I invite you to begin your Marlboro, NJ home search at, a great buyer resource. Here you can save your favorite properties, set up a custom listing alert for homes in Marlboro that meet your needs, view Real Estate trends in the area, get local Marlboro, NJ school and community information, and much more!