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nj first time home buyer: Do Not Accept Offers from Buyers Pre-Approved for USDA Financing - 03/23/10 09:54 PM
Should Realtors Advise Their Clients to Not Accept Offers from Buyers Pre-Approved for USDA Financing? If you don't know by now, USDA plans to be out of funds by the end of April of this year. So the question begs to be asked; Should listing agents advise their sellers go under contract with buyers purchasing using a USDA mortgage?
Without doubt there is a portion of buyers that can only finance a home using 100% USDA financing. Even the 3.5% FHA required down-payment is too much for some buyers. So should buyers be required to also be approved for alternate financing? Some lenders … (16 comments)
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nj first time home buyer: Educating First Time Home Buyers About Misleading Information on the Internet - 02/06/10 09:26 AM
Educating NJ First Time Home Buyers about Information on the Internet Last night I had the privilege of spending a little over half an hour on the phone with a first time home buyer. Initially I wasn't overjoyed at spending time with a client at 7:30 on a Friday night, but the reality was that I ended up having a good time helping a young couple understand the home buying process.
There are various programs available (which can be confusing even to someone in the business). Locally in Gloucester County and South Jersey there are several loan programs that first time buyers can take advantage of.
In this particular … (11 comments)
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nj first time home buyer: BEWARE: First Time Home Buyer Tax Credit Deadlines, Foreclosures, and Short Sales - 01/29/10 09:45 AM
BEWARE: There is a combination that the first time home buyer needs to be aware of. That combination would look something like this ...
The main item of issue here is the short sale or foreclosure. The home buying transaction typically takes 30-60 days. However, when the bank that is holding the seller's mortgage needs to make a decision, on "who, where, when, why" regarding the sale of the home, a buyer can expect to add a few weeks ... or even a few months to the timeline. And that is no exaggeration.
In such situations you could have an attorney for the seller, … (8 comments)
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nj first time home buyer: Use Your Tax Rebate to Buy a Home - 01/22/10 01:09 PM
Use Your Tax Rebate to Buy a Home New Jersey first time home buyers and home buyers all over listen up! Not only is the government offering incentives for Americans to buy and sell homes, but this Spring you can offer yourself an incentive: Buy a home with your tax rebate money! Some people will go on vacation. And some will buy a new LED flat panel TV.
But the shrewd will utilize this money for something that may just change their life, such as to buy their first home. Here's a quick review of the many first time home buyer "incentives" that … (7 comments)
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nj first time home buyer: Do You Have an October/November Settlement in NJ? Don't Be Caught Off Guard! - 10/28/09 11:49 AM
Do You Have an October/November Settlement in NJ? Don't Be Caught Off Guard! A quick reminder to real estate professionals and consumers alike: This time of year in New Jersey many property taxes are "updated", potentially causing the 2008 tax estimate that is showing on the MLS to be inaccurate. Sometimes the change is so small a buyer doesn't even notice. Sometimes a property's taxes could go up by $1,000 or more per year. It depends on the home you are buying.
Do not listen to rumors or leave it to chance. Have your real estate agent and title company do all the homework they can to find out … (2 comments)
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nj first time home buyer: Are First Time Home Buyer Mortgage Programs Ending Soon? - 09/16/09 12:46 PM
Are First Time Home Buyer Mortgage Programs Ending Soon? For first time home buyers in New Jersey and many other states, the first time home buyer tax credit not only gave some incentive to purchase a home, but it also gave them the availability to purchase homes they otherwise could not have qualified for. Let me explain.
Most states, if not all, have first time home buyer mortgage financing programs. In New Jersey, we have the New Jersey Housing and Mortgage Finance Agency (NJHMFA) that offers first time buyer grants, first time buyer mortgages, and a handful of other great options. In … (10 comments)
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nj first time home buyer: NJ Mortgage Finance Agency Rate Update - Smart Start for First Time Home Buyers - 08/04/09 08:40 PM
NJ Mortgage Finance Agency Rate Update - Smart Start Options for First Time Home Buyers
First Time Home Buyer 30 Year Term 5.750% - First Mortgage with no Smart Start assistance
6.125% - First Mortgage with 2% Smart Start assistance
6.250% - First Mortgage with 3% Smart Start assistance
6.500% - First Mortgage with 4% Smart Start assistance
The 40 year team requires an additional add-on of .125%
Tax Credit Loan Program - The "Prefund" Program This program allows up to $5,000 of the first time home buying tax credit (up to $8,000) to be used for the purchase … (0 comments)
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nj first time home buyer: Has Your Little One Got You Thinking About a New Place? - 08/04/09 07:43 PM
Being a first-time home buyer doesn't need to be a stressful situation. It would be nice if every first time buyer had the time to sit in a class to get educated on all the aspects of the home buying process. That might have been the only way to learn years ago. Today, the internet is the primary medium for education. You can educate yourself and find a great professional to work with.
Find below some helpful first time home buyer links. And when you have additional questions, don't hesitate to call, e-mail, or text your questions. I'd be happy … (0 comments)
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nj first time home buyer: Understanding and Using All of Your First Time Home Buyer Options - 07/10/09 05:00 PM
With all the excitement of the first time home buyer tax credit, buyers often get confused and miss out on other important options. As a first time buyer, don't let the excitement of the $8,000 tax credit cause you to miss out on many other home buying options. It isn't uncommon for a buyer to confuse the federal tax credit with seller credits, down payment assistance, or first time home buyer grants.
First time home buyers have many options. Utilizing one option does not hold a buyer back from utilizing one or more other options allowed to them as a first … (76 comments)
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nj first time home buyer: Understanding Seller Concessions | Seller Paid Closing Costs | Seller Contributions | Seller Assist - 07/06/09 01:52 PM
Having the seller pay some or all of your closing costs is common. Some buyers and their real estate agents have a hard time structuring these type of transactions. Below are FAQ's to help you understand the structuring needed for a purchase with seller concessions.
Clarifying Terms When talking about this topic there will be many phrases thrown around that basically mean the same thing; seller concessions, seller paid closing costs, seller assistance, seller contributions, and more. For our purposes we will use the term seller concessions.
How much can I ask for in seller concessions? Typically on conventional loans the most a buyer receives in … (68 comments)
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nj first time home buyer: Home Buying Tips - 06/12/09 08:54 AM
Buying a home isn't rocket science. However, somehow, someway, we all still hear horror stories of missed closings, different rates at the settlement table, or points to pay that were never agreed upon. Worse off, in some situations home buyers are put in such a bad situation that they never actually get to buy the house. Their overjoy turns to utter sorrow.
This list could have 100+ tips. Here are just a few things that you can do to help your home buying event run smooth.
Don't shop for interest rate. Shop for a lender that knows what they are doing. You want a … (4 comments)
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nj first time home buyer: Tax Credit Loan Program: The "Prefund" Program - 04/28/09 09:39 PM
Tax Credit Loan Program The "Prefund" Program Looking for a way to use the $8,000 tax credit NOW to buy a home? Need help with a down payment? Treasury Mortgage is at the forefront offering a "prefund" program to qualified home buyers, allowing them to purchase a home NOW utilizing the government's tax credit program. If a buyer is eligible for the First-Time Home Buyer Tax Credit, than they may also qualify to utilize that same tax credit money NOW for the required down payment needed to buy their first home.
In a nutshell, you are given a short term loan … (12 comments)
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nj first time home buyer: NJ First-Time Home Buyer Mortgages and Grants - 12/12/08 08:06 PM
One of the most common questions in the mortgage world is in regards to first time home buyer mortgages and financial assistance for down payments and closing costs. In South Jersey there are several down payment and grant assistance programs for first-time home buyers. A short discription of each is listed below. As an example, each South Jersey County below has at least one grant program. If utilized correctly, many buyers can get into a home with little or no money of their own. Burlington Cty Grant = $3,500 - $7,000 Camden Cty Grant = $5,000 - $10,000 Gloucester Cty Grant = Up to $10,000 Statewide NJ Grant and Down … (5 comments)
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nj first time home buyer: New Jersey First Time Home Buyer Program Update - 09/30/08 12:12 PM
First-Time Home Buyers in New Jersey and for Realtors in NJ who are working with first time home buyers, the rates for first time home buyer programs have changed as of Sept 30, 2008. Due to Wall Street Market volatility that has increased the cost of mortgage revenue bonds, NJHMFA's interest rates have been increased and changes are effective immediately. Across the board rates are up .375% on this program. Also, in case you haven't been following this program, some time ago HMFA changed to a tiered rate system based off of the amount of assistance requested (2, 3, or 4%). These programs have income … (0 comments)
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Steve Kappre | NMLS# 217008 NJ Mortgage Loan Officer | 856-419-3561
Mantua,
NJ
More about me…
Treasury Mortgage | Mortgage Company - New Jersey
Address: 550 Bridgeton Pike, Suite 2, Mantua, NJ, 08051
Office Phone: (856) 415-7720
Cell Phone: (856) 419-3561
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