freedom mortgage: The difference between a referral & an endorsement - 02/07/13 01:54 AM
Some food for thought to share today....
I have been thinking about the difference between a referral & an endorsement recently.
We all refer our family, friends & clients to people who may be able to help them. (the doctor, lawyer, mechanic, contractor, etc) But a referral that is also an endorsement for that service provider is a higher level of action.
Think about it….I have a good number of agents who refer their clients to me for a new mortgage or pre-approval. I have several within that group who highly endorse my work to those clients, and that … (4 comments)

freedom mortgage: Condos & Financing - FHA approvals - 12/10/12 10:44 AM
If you own or are looking to buy a Condo/Townhome with an association or management fee collected, you will want to be aware of a potential issue regarding financing. The majority of lenders will require that the condo association provide proof of financial stability and other reporting before you can obtain mortgage financing. FHA maintains a list of approved associations, but the list contains only about 25% of all condos! Many of the previously approved condos had their approvals revoked or expired in 2011 & they failed to re-apply, or could not qualify.
Realtors & owners/buyers can look here … (2 comments)

freedom mortgage: USDA changes to PMI coming soon! - 08/15/12 01:07 AM

freedom mortgage: Asset Documentation Tips for Home Buyers - 06/22/12 04:41 AM
One of the biggest obstacles we face today in processing mortgage applications is obtaining proof of assets for funds to close the deal.
Many buyers have multiple bank accounts, stocks, bonds, CD’s, Gifts, etc.  They often make large deposits, transfer money, and sometimes they even want to use cash when buying a home.
This is often the biggest issue we have when trying to complete a file on time- documenting all the money!
Underwriting guidelines strictly require a full paper trail of any & all assets to be used to fund the purchase of a … (0 comments)

freedom mortgage: Best of the Best - 01/19/12 01:58 AM

(732) 938-2252 x 303
Jeff Coon
Freedom Mortgage Corporation

freedom mortgage: Taking Stock- Working with sellers & buyers - 07/13/11 05:18 AM
This year has been a challenging one for many of us in the business of selling & financing real estate.
It seems there may be a lack of overall urgency with many sellers unwilling to budge on price, and buyers willing to sit on the sidelines, or perhaps even being one of those sellers themselves.
Mortgage lending guidelines have tightened in many ways, too.  There's just not as much action taking place, but we need to take stock of what we can do to control our own destinies, and earn a living!
Here's a few ideas that I'll share with you.  … (2 comments)

freedom mortgage: Do you know what an energy efficient mortgage is? - 07/01/11 05:37 AM
Do you know what an energy efficient mortgage is?
Perhaps you've been at a closing and heard the attorney mention this odd form the buyer had to sign....or heard a mortgage rep mention this program before. If you are showing a home that is need of new windows, or has an outdated or old furnace or Central A/C unit for example, then you may want to know about these options for the buyer's loan.  A buyer can add the cost of the replacement items to the loan, without affecting the qualifying ratios.  This allows the buyer to stick with a low … (0 comments)

freedom mortgage: Freedom Mortgage Offers 1% lender Credit to Buyers - 05/31/11 04:31 AM
Freedom Mortgage Offers 1% lender Credit to Buyers

Home Buyers  & Real Estate Agents Take Notice!
Buyers- you could save thousands of dollars at closing!
Effective June 1st, 2011 the local Wall Township, NJ branch location of Freedom Mortgage Corporation is test marketing a new program targeted at home buyers.  The offer consists of a 1 percent lender credit towards closing costs on all loan programs including: FHA, Conventional, USDA, VA & Fannie Mae Home Path loans. This is not limited to first time buyers! Anyone who becomes pre-approved on or after June 1st, 2011, and applies for financing … (4 comments)

freedom mortgage: Freedom Mortgage rated One of the Best - 05/04/11 07:35 AM
Freedom Mortgage Rated "One of the Best"
by readers of the Asbury Park Press for 2010

If you are in the market for a mortgage to purchase or refinance a home, please contact:
Jeff Coon
Branch Manager Freedom Mortgage Corporation Bus: (732)938-2252 x303
Cell: (732)547-4651 Fax: (732)938-2493
NMLS ID#19375 Licensed by NJ Division of Banking & Insurance
Over 25,000 hours of experience!

freedom mortgage: Seller Concessions- When/How/Why/How Much? - 05/04/11 07:20 AM
Seller Concessions- How & when to use them, and what are the limits?
When I am working with a buyer, I like to look at their big picture, it helps me to understand what they want, what is important to them, and it will help me structure a mortgage scenario that leaves them with the best possible mix of affordable payment, cash investment, rate/term & reserves. In this post, reserves & cash out of pocket is what we are talking about when it comes to seller concessions.
I think it is dangerous, especially for first time buyers, or one income families … (4 comments)

freedom mortgage: Collection Accounts- Should you pay them? - 03/29/11 03:48 AM
When a consumer does not pay a debt for a period of time it often turns into a collection account. You can have collections from debt owed to credit card issuers, medical professionals, libraries, schools, service providers, insurance companies, vendors, and more. Each type of creditor can have a different time frame in which an account might be sent to a collection agency. Often, these creditors can lend or sell the debt to a third party agency that is in business to make a profit from the collection of these unpaid obligations. Since these collection agencies get their income from payment of the outstanding … (0 comments)

freedom mortgage: Fannie Mae Home Path Mortgages - 03/10/11 02:55 AM
Fannie Mae Home Path Mortgage program
Now available at Freedom Mortgage (732) 938-2252

 The HomePath® Mortgage Program is a special financing program to allow purchasers expanded underwriting flexibilities for Fannie Mae Owned (REO) properties in which Fannie Mae has deemed eligible for the program.
Properties must be designated as eligible for HomePath financing by Fannie Mae on the website:  
Low down payment and flexible mortgage terms Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a secured loan from a nonprofit organization, state or local government, or employer No … (0 comments)

freedom mortgage: FHA fee hike: more news - 02/23/11 02:45 AM
The FHA commissioner, David Stevens just released this letter in an attempt to 'explain' the recent adjustment to the FHA mortgage insurance annual premium- this is the part of the MIP that is paid monthly in a mortgage payment.
 February 18, 2011
On February 14, I announced a new premium structure for FHA single-family mortgages, increasing the annual mortgage insurance premium (MIP) by a quarter of a percentage point (.25) on all 30-year and 15-year loans.
It is important for everyone in the industry to understand the reason for this action.
After careful consideration and analysis, we determined it was … (0 comments)

freedom mortgage: Unemployment report Friday Jan 7th 2011 - 01/07/11 10:19 AM
Non Farm payrolls grew by 103,000 in December. This is less than economists had forecast in December but November was revised higher by 32,000 jobs to +71,000 (vs. an originally reported +39,000 which is still lower than anticipated). October NFP also saw upward revisions, adding 38,000 more jobs to the tally. So in total, including revisions to the previous month's data, the nation is seeing 173,000 more jobs as of this morning which is close to consensus.
The second metric is more influential on the sentiment of Main Street, the Unemployment Rate (Household Survey).
The Unemployment Rate (UNR) fell from 9.8% in … (1 comments)

freedom mortgage: ADP Payroll reports strong job growth in Private Sector 1/5/2011 - 01/05/11 02:29 AM
Private-sector employment increased by 297,000 jobs in December, according to Automatic Data Processing Inc.'s employment report released Wednesday 1/5/2011. Employment in the service-producing sector rose 270,000, the largest monthly increase on record. Employment in the goods-producing sector rose 27,000, the largest gain since February of 2006.
On Friday, the government will report on December's nonfarm payrolls, which also include government workers, and economists polled by MarketWatch are looking for a gain of 143,000, and for the unemployment rate to remain at 9.8%.
Today, the ten year treasury yield rose from a low point of 3.30% to a late morning level of 3.44%, … (0 comments)

freedom mortgage: Top 5 Reasons Why Agents need a Lender Relationship - 01/03/11 04:01 AM
As a Real Estate Agent, one of the best things you can provide to your clients is advice.  Most buyers ( and sellers for that matter ) look to their agents as a source for information to help guide them through a very complex process to buy/sell a home. During the course of your career you will undoubtedly have the experience of working with numerous local professional service providers with varying results.  As a trusted advisor, you are in a clear position to provide insight as to which providers may be best suited to work with your clients. 
Realtors are often asked to … (3 comments)

freedom mortgage: Riding the Rate See-Saw - 12/15/10 03:52 AM
Riding the Rate See-Saw
The last few weeks have seen some crazy movement in mortgage rates.  The economy shows signs of picking up steam with good earnings reports & sales figures coming in, as well as leading economic indicators pointing to more consumer spending & tame inflation.  the Fed has stated that they want rates to remain low, but recently the exact opposite has occured.
Consider this:
Since December 1st, lenders have seen the following changes in their daily price sheets...

The bps are basis points- the cost of borrowing.  In other words let's say you have a targeted interest rate of 4.5 … (1 comments)

freedom mortgage: ENERGY EFFICIENT MORTGAGES- How do they work? - 11/01/10 05:20 AM
An Energy Efficient Mortgage is a useful option for people buying or refinancing a home that is in need of upgrades such as new Central A/C, fuel efficient furnaces, insulation, new windows, etc. Some of the benefits include the ability to include the cost of the upgrades in the new mortgage amount without affecting loan to value, down payment requirements, or debt ratios. If the home you are considering purchasing needs new air conditioning or heating, this may be the perfect program for you. If you have a home in need of upgrades & are … (4 comments)

Jeff Coon, Branch Manager (Annie Mac Home Mortgage)

Jeff Coon

Branch Manager

Toms River, NJ

More about me…

Annie Mac Home Mortgage

Address: 1800 Route 34 North, Suite 406, Wall, NJ, 07719

Office: (732)938-2252 x303

Fax: (866) 886-3242



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