Check Out New Jersey's "LIVE WHERE YOU WORK" Mortgage Financing Program...

By
Real Estate Broker/Owner with REMAX Main St Realty

What is the Live Where You Work Program?

Live Where You Work Logo

 

Live Where You Work (LWYW) is a special homebuyer incentive program for people who want to buy a home in the (New Jersey) town where they work. It is a fair, reliable, fixed rate mortgage loan for first-time and urban homebuyers.


The goal of LWYW is to build stronger communities by promoting homeownership and encouraging people to live closer to their jobs. This, in turn, will reduce the need for cars and increase the use of alternative transportation such as walking, biking and public transit.

If you would like to buy a house in the town where you currently work, then LWYW might be right for you. Employees benefit from attractive mortgage rates, more flexible loan application review and underwriting criteria, and reduced commuting times to work. Municipalities benefit from having a committed workforce living nearby, and the activity and economic vibrancy that comes with people living near where they work.
 

 

Benefits of the Live Where You Work Program

  • 5% downpayment and closing cost assistance at 0% interest that is forgiven if the homeowner lives in the home for 4 or 7 years depending on income
  • More flexible underwriting (relaxed debt to income ratios in recognition of the cost savings of not having to commute to work)
  • Competitive first mortgage rates

For more information, visit our Live Where You Work website or call 1-800-NJ-HOUSE

Comments (4)

Letitia Stevenson
BHHS Fox & Roach | www.DelawareValleyRE.com - Greenville, DE
Listing Agent DE/PA/MD, Digital Marketer & Coach

Welcome to Active Rain! Active Rain is a great place to share your knowledge, expertise and thoughts, as well as network and learn so much from the vast pool of talent already onboard.

Welcome Aboard and Much Success!

Jul 04, 2010 03:49 AM
Olympus Executive Realty Inc.
Olympus Executive Realty INC. - Orlando, FL
Home Of The Top Producers

Welcome to ActiveRain!

Congratulations on your first Blog!

Wishing you the best on ActiveRain!

Jul 05, 2010 07:10 AM
Steve and Jan Bachman
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax - Herndon, VA
Realtors - Northern Virginia

 

Welcome to Active Rain Main street... have fun in the game.

We joined last November and have found that the Rainmaker outside blog combined with Localism have worked well for us…. getting us better page placement on Google searches within neighborhoods. Worth checking out. 

It is also a good idea to use a lot of pictures in your post from the area you cover to get and hold people's attention...they shy away from reading blocks of text.

A side benefit of AR is learning from other folks’s social media creativity and making friends for future referrals. Here is a good place to start: Learning  to use Active Rain  

Have great success this year,

Steve and Jan

 

 

Jul 06, 2010 12:30 PM
Sergio Rebollo Jr.
Real Estate TeamMates - Miami, FL

Welcome to ActiveRain. This is a great community to network with others as well a great place to learn from other's experiences and knowledge. I've enjoyed it; I hope you enjoy it as well.

Jul 08, 2010 03:50 PM