Home Sweet Home: Key Steps to Buying a Home in New Jersey

Christian DiStasio • April 18, 2023

Home Sweet Home: Key Steps to Buying a Home in New Jersey

Spring in the Garden State brings blooming flowers, milder temperatures, and an array of outdoor activities. For many homebuyers, it’s also the ideal time to house hunt. Whether you are a first-time homebuyer or an experienced homeowner, consult a top real estate expert who will represent and protect your best interests.


The Christian Di Stasio Group is an award-winning real estate team who can help you reach that 2023 goal of getting into the home of your dreams. Our 28+ years of experience in Westwood NJ Real Estate and Bergen County NJ Real Estate make us the perfect fit for any type of client, including growing families, young professionals, empty nesters, and investors. We are recognized as top-performing Westwood NJ Realtors, Bergen County NJ Realtors, Paramus NJ

Realtors, and Franklin Lakes NJ Realtors. Buying a home may be the most important financial decision you make, which is why with so much at stake, you want the process handled with the utmost care and attention. A trusted and trained real estate broker will help you avoid the pitfalls that could negatively impact your transaction. The Christian Di Stasio Group helps clients with the entire home-buying process. Let us guide you so that you can purchase with confidence.

Peruse these 5 Stress-Soothing Homebuying Tips, which are adopted from my comprehensive “Step-By-Step Guide to Buying Real Estate.” The buying process can be complex so we strongly encourage you to contact us to discuss the following in detail:


1. Crunch the numbers. How will you fund your purchase? Establish your budget and make sure you’re financially prepared. Consider lender types, such as mortgage bankers and mortgage brokers. Explore cash purchases and mortgage qualifications as well as prepare for out-of-pocket expenses and upfront costs.


2. Create a Need, Want, and Must list. What type of property suits you and your needs? What specific features will your ideal property have? Are you looking for a classic Colonial, move-in ready ranch, brand-new condominium, historic townhouse, or a fixer-upper?


3. House Hunting. When you work with The Christian Di Stasio Group, we’ll provide well-curated recommendations of showings and open houses that are tailored to meet and exceed your expectations. It’s important that your Realtor is a full-time agent who dedicates 100% of their time to their practice. Working with us gives you unparalleled access to information about market conditions, properties for sale, and a home’s value that will help you make a sound decision when choosing where and when to buy.


4. The Buying Process. This is where you make an offer and have an attorney review the purchase-sale agreement. Be aware of contract contingencies and deadlines, including home inspections, appraisals, deposit due dates, title searches, and mortgage contingency. We can walk you through all contract terms and negotiate on your behalf. Negotiation is an art and a science; it demands practice, skill, and experience. The Christian Di Stasio Group can provide tremendous value when it comes to negotiations and dealmaking.


5. The Closing. Prior to the closing, you and your agent will conduct a walkthrough to ensure the property is in order and make sure any items that may have been agreed to be fixed or remediated during the process are completed. You will attend the closing with your attorney, address any remaining issues (a rarity), and review, and sign all closing documents. Make payment for your remaining downpayment, and then congratulations on purchasing real estate!


As your local New Jersey realtor with global reach, The Christian Di Stasio Group offers a suite of tools and resources to help you on your home-buying journey. Proudly ranking as a top 1%Realtor with Prominent Properties Sotheby’s International Realty, we are a white glove service real estate team whose commitment to serving clients at the highest level has contributed to bringing homebuyers’ dreams to life.

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Understanding Mortgage Options for New Buyers Now let’s break down the most common mortgage types and what they mean for you as a first-time homebuyer. 1. Conventional Loans Best for: Buyers with strong credit and stable income. Typically require a 5–20% down payment Offer competitive interest rates May require private mortgage insurance (PMI) if you put down less than 20% More flexibility in terms of home types and locations Why it works in Bergen County: Many homes in Bergen are priced higher than the national average, so having strong credit and a conventional loan can give you an edge in competitive markets. 2. FHA Loans (Federal Housing Administration) Best for: Buyers with lower credit scores or smaller down payments. Down payments as low as 3.5% Easier credit qualifications Requires upfront and annual mortgage insurance premiums (MIP) Bergen County note: FHA loans are subject to county-specific loan limits. As of 2025, the FHA limit in Bergen County for a single-family home is higher than the national average due to the area's cost of living. 3. VA Loans (Veterans Affairs) Best for: Veterans, active-duty service members, and some surviving spouses. No down payment required No PMI Competitive interest rates Must meet service eligibility requirements Why it works in Bergen County: VA loans make it easier for eligible buyers to afford homes in high-demand areas without large upfront costs. 4. USDA Loans (U.S. Department of Agriculture) Best for: Buyers in rural or less densely populated areas. Zero down payment Competitive interest rates Income limits apply Must buy in eligible locations Limitations: USDA loans may not be available in more urbanized parts of Bergen County, but some outlying areas could qualify. 5. Jumbo Loans Best for: Buyers purchasing luxury homes above the conforming loan limits. Typically required for homes priced over $1,089,300 in Bergen County (as of 2025) Stricter credit and income requirements May require larger down payments (15–20%) Why it works: Bergen County’s high-end markets (like Saddle River or Alpine) often exceed standard loan limits, making jumbo loans essential for certain buyers. Choosing the Right Mortgage: Key Considerations 1. Down Payment Capability How much cash do you have available? If it's less than 10%, FHA might be a better fit. With 20% or more, a conventional loan could offer long-term savings. 2. Credit Score Your credit score impacts the interest rate you receive. A score of 740+ generally secures the best rates. 3. Employment & Income Stability Lenders want to see steady employment and a manageable debt-to-income (DTI) ratio. 4. Loan Term Most buyers choose between: 30-year fixed: Lower monthly payments, higher total interest 15-year fixed: Higher monthly payments, less interest overall Adjustable-rate mortgages (ARMs): Lower initial rates, but they can change over time 5. Property Type Condos and townhomes may have special financing requirements, including HOA approvals and reserves. Your mortgage advisor should be familiar with these nuances in Bergen County. Bergen County-Specific Mortgage Tips Shop Local Lenders: Some Bergen-based lenders offer incentives for first-time buyers, including grants or reduced fees. Account for Property Taxes: Bergen County has some of the highest property taxes in New Jersey, so factor this into your monthly payment. Research First-Time Buyer Programs: New Jersey offers programs like the NJHMFA First-Time Homebuyer Program , which provides down payment assistance and below-market rates. Final Thoughts: Confidence Through Preparation Buying your first home in Bergen County is a journey that requires careful planning—but with the right guidance, it's one of the most rewarding experiences you'll ever have. Understanding your mortgage options is the key to making informed decisions that suit your financial situation and long-term goals. At Christian Distasio Real Estate , we specialize in helping first-time buyers navigate the Bergen County market with clarity and confidence. Whether you’re unsure of how much house you can afford or curious about the best neighborhoods for young professionals, we’re here to help every step of the way. Ready to find your dream home in Bergen County? Contact Christian Distasio today for expert real estate guidance and trusted lender recommendations.
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