Welcome or Register

RED BARN REALTY

990 Somerset St.
Watchung, NJ 07069
(908) 754-0111

Thank you for visiting today. If this is your first visit, please take your time and look around. We have plenty of information and resources available to you. If you are a return visitor, thank you. We would love to hear from you, so we may tell you how we can serve all your real estate needs.

Red Barn Realty has been in business and serving the Watchung/Warren Communites and surrounding towns since 2001. Broker-Owner, Carl Porambo is a 17 year real estate professional who undertands all facets of the real estate business. Carl's local and regional knowledge of the market is beneficial to buyers and sellers alike.

Carl grew up in Scotch Plains, has lived in Basking Ridge for the past 15 years and operates his Brokerage out of Watchung for the past 10 years. His local knowledge is your advantage!

In addition, all of our Red Barn Realty agents live and work throughout Somerset, Morris, Hunterdon and Middlesex Counties of NJ. Combined, our firm has nearly 20 years of experience in real estate. Please feel free to connect with us to inquire about any and all of your real estate needs.

Back to Table of Contents

Getting a Legitimate Lender and Getting Pre-Approved

It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home.

Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application, received your credit report, and verified your employment, assets, etc. When you are pre-approved, you know exactly what the maximum loan amount will be.

A pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as an interested buyer and lets the seller know immediately that you will qualify for a loan to buy their property.

In addition to being pre-approved, it’s important to be pre-approved with a legitimate lender. Legitimate lenders include: banks, mortgage bankers, credit unions, savings and loan associations, mortgage brokers, and online lenders.

Some lenders to avoid: those who lose a form or misplace a file, those who gather information from you in an unorganized manner, those who are not informed about interest rates, points or costs, and those who cannot provide you with the right information.

Back to Table of Contents
Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu