Bob Basmajian

Your Mortgage Guy | Father | Family Man | True Friend

[Bob Basmajian @mortgprofessor]

Forbes just named New American Funding the #1 Top Mortgage Lender to Consider in 2025 — ahead of our competitors. Why? Because we show up differently. We lead with heart. We meet buyers where they are. And we don’t just talk about access — we deliver it #yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

WHEN YOUR LENDER SAID NO!
Consider a second opinion with #yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

5.0 star review received on https://t.co/dNAaUcuoji for Bob Basmajian by Ray W F J - Bob was very helpful when being asked questions and his communication was always clear and timely.
https://t.co/jkSsJzu5uU

[Bob Basmajian @mortgprofessor]

My team & I specialize in getting challenging loans approved and we’ve closed several deals, that other lenders said they could not. #yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

I don't know about you, but I read reviews for every service or product I use! And this one just blew me away! Thank you Mark!!
#yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

https://t.co/nZtJBJfAoF

[Bob Basmajian @mortgprofessor]

5.0 star review received on https://t.co/dNAaUcuoji for Bob Basmajian by James K E - Bob was very informative, looked out for me from a financial stand point and closed the house very f...
https://t.co/wo4pqu2lB3

[Bob Basmajian @mortgprofessor]

UPDATE: My loan that the other lender said NO to!!
Was just cleared for closing! 🥳
My borrower is soooo happy!!!
#yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

#yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

With over 20 years of experience as a Trusted Mortgage Guy!
I provide more than just loans—I provide clarity!
My mission is to educate and guide you toward the ideal loan program and most competitive interest rate for your specific needs and goals.
Whether you are buying your first home, navigating self-employed financing, or looking to renovate, downsize, or refinance, I’ll map out every option so you can choose your future with confidence.
Licensed in New Jersey and Pennsylvania, I also specialize in state-specific first-time homebuyer programs and streamlined processes to keep your experience stress-free.
Ready to find your path home? Let’s connect.
#yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

The most widely available statewide assistance program for first-time homebuyers in New Jersey is the Down Payment Assistance (DPA) Program offered by the New Jersey Housing and Mortgage Finance Agency (NJHMFA).
​While often referred to as a "grant," it is actually structured as a forgivable second loan.
​Here are the key details on how the NJHMFA DPA program generally works:
​1. The Assistance
​Amount: The DPA provides up to a maximum of $$15,000 (the exact amount can sometimes vary by county).
​Purpose: The funds can be used for down payment and/or closing costs.
​2. The Structure (Forgivable Loan)
​Zero Interest/No Monthly Payment: The assistance is structured as a second mortgage loan that is interest-free (0\% interest) and requires no monthly payments.
​Forgiveness: It is a forgivable loan over a set period (typically five years). The loan is completely forgiven if the borrower continuously resides in the home as their primary residence for the full forgiveness period and does not refinance or otherwise convey the first mortgage.
​Repayment: If the borrower sells, refinances, or ceases to occupy the home as their principal residence before the forgiveness period ends, the outstanding balance of the loan becomes due and payable.
​3. Eligibility Requirements
​To qualify for the NJHMFA DPA, you must meet several criteria, including:
​First-Time Homebuyer: Generally, you must be a first-time homebuyer, defined as someone who has not had an ownership interest in their primary residence during the previous three years. (There may be exceptions for veterans or those buying in certain "Urban Target Areas.")
​NJHMFA First Mortgage: The DPA must be paired with an NJHMFA competitive 30-year, fixed-rate first mortgage loan (often FHA, VA, or USDA insured). You cannot use the DPA with a mortgage from a non-participating lender.
​Primary Residence: The home must be purchased in New Jersey and occupied as the borrower's primary residence within 60 days of closing.
​Financial Criteria: Borrowers must meet the program's credit score and debt-to-income (DTI) ratio requirements (e.g., a minimum credit score of 620 is often required).
​Income and Price Limits: Applicants must meet maximum household income limits and the home's purchase price must fall within the program's limits, which vary by county and household size.
#yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

Submitting a loan for processing today, that another lender said NO to:) #yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

As a trusted Mortgage Guy, I have the knowledge and the experience to educate and guide you through the loan process. I’ll find you the right loan program for your budget…and make sure all of your loan details are competently handled, so that your closing goes smoothly, and you can take stress-free ownership of your new home.

[Bob Basmajian @mortgprofessor]

I've closed several loans for borrowers who were told NO by another lender! #yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

With over 20 years of experience as a Trusted Mortgage Guy!
I provide more than just loans—I provide clarity!
My mission is to educate and guide you toward the ideal loan program and most competitive interest rate for your specific needs and goals.
Whether you are buying your first home, navigating self-employed financing, or looking to renovate, downsize, or refinance, I’ll map out every option so you can choose your future with confidence.
Licensed in New Jersey and Pennsylvania, I specialize in state-specific first-time homebuyer programs and streamlined processes to keep your experience stress-free.
Ready to find your path home? Let’s connect.
#yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

https://t.co/wy866RHt55

[Bob Basmajian @mortgprofessor]

https://t.co/PHesMyTLwX

[Bob Basmajian @mortgprofessor]

5.0 star review received on https://t.co/dNAaUcuoji for Bob Basmajian by Kylee A S - Bob made the home buying process smooth and pain free while keeping us informed every step...
https://t.co/FbB5CLhWqc

[Bob Basmajian @mortgprofessor]

#yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

#yourtrustedmortgageguy

[Bob Basmajian @mortgprofessor]

#yourtrustedmortgageguy