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officer loan: South Jersey Financing and Mortgage Scenarios, Options, and Articles - 02/24/10 10:12 AM
South Jersey Financing and Mortgage Scenarios, Options, and Articles Below is a recent catalog of mortgage related home buying tips. Topics include first time home buyers, seller concessions, zero down mortgages, a scenario/problem/FAQ section, refinancing, reverse mortgages and more.
If there is anything you can not find below or if you need an answer to something, just contact Steve.
First Time Home Buyer Articles for South Jersey Still Closing Mortgage Loans in New Jersey below 620 Credit Scores Making Your First Time Home Buying Experience Successful BEWARE: First Time Home Buyer Tax Credit Deadlines, Foreclosures, and Short Sales NJ First Time Home … (3 comments)
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officer loan: Making Your First Time Home Buying Experience Successful - 02/17/10 10:54 PM
Making Your First Time Home Buying Experience Successful Well the run has begun and the whirlwind of first time home buyersis picking up steam all across the country. Every buyer will want to know how understanding and using all of your first time home buyer options comes into play in their personal home buying goals.
BUYERS TAKE NOTE: What many Realtors and lenders (and therefore buyers) don't understand is that the $8,000 first time home buyer tax credit is not the only first time home buyer incentive right now. Indeed in New Jersey we are looking at a handful of mortgage options including a … (72 comments)
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officer loan: 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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officer loan: NJ First Time Home Buyers: The Clock is Ticking Again - 01/26/10 09:46 PM
NJ First Time Home Buyers: The Clock is Ticking Again The real estate industry went through a "buzzer beater" with the first-time home buyer tax credit deadline last November. Title companies were scrambling, this NJ loan officer was working overtime, and attorneys were getting ready to duke-it-out if need be.
Many first time buyers were relieved to hear that the tax credit was extended. Some buyers closed a few days later without an issue. Some closed a few weeks later. And in one situation I was personally involved in, a home buyer was buying a short sale and closed in JANUARY, or two months later.
The current guidelines for … (5 comments)
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officer loan: 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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officer loan: First Time Home Buyer Tax Credit Scenarios - 01/19/10 01:16 PM
First Time Home Buyer Tax Credit Scenarios I typically pass off specific tax credit questions to a tax advisor or CPA. So when a Realtor asked me today about a co-signer on an FHA loan, and if the first time buyer still qualified for the tax credit, I thought "yes", but wanted to make sure.
A quick drop by to the IRS site (IRS.gov) and a few clicks and I found my answer. The first time buyer with a co-signer DOES qualify for the tax credit.
For a list of other scenarios that may help buyers understand, check out this link … (7 comments)
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officer loan: Gloucester County First Time Home Buyer Assistance Program: Update - 01/17/10 10:11 PM
Gloucester County First Time Home Buyer Assistance Program: Update The Gloucester County, NJ first time home buyer grant program is a great option for home buyers looking to purchase in this South Jersey area. More recently, this program has changed. Here is an update on how this great program works;
The amount allowed as assistance is $10,000 The assistance can be used for closing costs and/or down payment The assistance is provided at closing, not before. UPDATE: A home buyer is now required to receive home buyer counseling, such as that approved by HUD. There are several local areas to obtain … (17 comments)
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officer loan: Reverse Mortgages for Gloucester County, NJ - 01/16/10 10:38 AM
Reverse Mortgages for Gloucester County, NJ Here is some helpful information regarding reverse mortgages. This video answers some frequently asked questions such as; Is now a good time to take out a reverse mortgage? Is there a better/best age to utilize a reverse mortgage? What is the interest rate? How does the interest rate determine how much I can borrow? You can both refinance and purchase a home using a reverse mortgage. If you are considering a reverse mortgage in Gloucester County or the surrounding area, and would like to meet with a representative for a consultation, and to review your … (2 comments)
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officer loan: Refinance Your Home Loan in South Jersey - 01/13/10 11:45 PM
Refinance Your Home in South Jersey If the public was to believe everything that the media "reported" on, they would believe that the refinance of a home mortgage would be nearly impossible. While times have certainly changed, there are certainly options to refinance your home, lower your rate, and even take cash out or consolidate your debt.
Mortgage options still exist:
Up to 95 percent on many properties Up to and above 100% financing for certain situations Cash-out Debt consolidation Fixed rates and adjustable, including interest only Primary homes, second homes, and investment properties Reverse mortgages, which allow those 62 and … (1 comments)
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officer loan: Steve's Fan Page is HOT HOT HOT!!! - 01/10/10 04:56 PM
Steve's Fan Page is HOT HOT HOT!!!
Rumor has it that this mortgage guy in New Jersey has one HOT FaceBook business page. I'm not sold! Maybe you want to check it out for yourself ... What, become a fan ?? I don't know. Click on the fire and see what all the fuss is about. … (12 comments)
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officer loan: Frankly My Dear Lender, We Didn't Care About That "Piddly" $17.00 Payment - 01/08/10 08:51 AM
It seems no matter how many times you come across this situation as a mortgage lender, and think to yourself, "I can't believe ANYONE would do this" ... there is another person in line ready to make the same foolish mistake! Home buyers, if you think that once you apply for a loan and are approved by a lender that things don't change, and you can do things such as miss payments that need to be made ... you are sorely incorrect.
Consider just a few structured time-lines regarding an approval:
Credit reports are good for 90 days Appraisal (right now) are … (4 comments)
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officer loan: More FEMA Designated Flood Zones - Effective Date 01/20/2010 - 01/07/10 11:06 AM
More FEMA Designated Flood Zones - Effective Date 01/20/2010 in my area! As if we weren't having enough fun already in the industry, FEMA has altered flood zone locations across the country. Now I don't know about you, but the last transaction I had that required flood insurance nearly blew it out of the water, to the tune of $1,755 a year on top of the $515 the buyers were paying for home owner's insurance. And this was on a home selling for $126,000. $150+ a month is BIG NEWS to buyers at this level, and in their case they didn't … (7 comments)
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officer loan: Best Remodeling Projects Cost V.S Value For New England 2009 - 01/07/10 08:25 AM
Anybody looking to refinance in Gloucester County to remodel or update their home may find this article interesting and useful. Although our area of Gloucester County and South Jersey may value different upgrades a little differently, this list is nonetheless useful to reference. If you have specific questions regarding upgrades, and are having a hard time deciding, contact your favorite local Realtor. And if you don't have one, let me know. I'll send you to someone that knows your area well.
One other option worthy of mention is the 203k rehab/renovation loan, which allows a home owner/home buyer to finance … (2 comments)
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officer loan: Are You Buying a Home in Gloucester County? | Money, What Money I am Financing 100%! - 01/06/10 09:12 PM
Here's a good idea of what buyer's can expect in terms of the money they will need upfront aside from any lender charges/fees. That is right, even with 100% financing charges apply. Having said that, there are many options to have some or all of your costs paid by the seller or by assistance (grant) programs.
Read on ...
Via Andrea Kappre, Gloucester County Realtor | Real Estate Agent | Homes for Sale (Century 21 Hughes-Riggs Real Estate Company):
Are You Buying a Home in Gloucester County? | Money, What Money I am Financing 100%! There seems to be a misconception … (0 comments)
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officer loan: The Wage Earner Home Buyer with the Side Business (Self Employed) - Beware - 01/02/10 12:07 PM
The Wage Earner Home Buyer with the Side Business (Self Employed) - Beware I often take things in this business for granted, thinking most professionals know what is going on in the mortgage market. Maybe I should have shared about this months ago. I guess better late than never.
If you have been paying attention to the documents buyers must offer up to lenders these days, you'll know that most often tax returns (1040's) are required, even for those earning income solely as a wage earner (hourly/salary type position). In the past a mortgage was approved solely on income derived from a borrower's … (19 comments)
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officer loan: First Time Home Buyers - There Is More To Pay Besides Your Mortgage! - 01/01/10 02:46 PM
To every NJ First time home buyer - check this out for some helpful info. I find often that first time home buyers are just happy to get financing, and do indeed plan to pay for furniture, bills, and home repairs by using credit cards. Listen up! And make it a priority to have reserves in the bank for such, as well as for mortgage payments and other needs in life. Read on below ...
Via Jackie Connelly-Fornuff - Coldwell Banker Babylon Real Estate- (Lindenhurst West Babylon West Islip Islip East Islip):
First Time Home Buyers - There Is More … (6 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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