As of October 1st Egg Harbor Township will no longer be eligible for USDA 100% financing and parts of Galloway Township will no longer be eligible.  This popular loan program has allowed many home buyers in our area to buy with zero down payment.  The good news is there are other financing programs that will allow you to purchase with as low as 3.5% down payment.  My challenge to potential home buyers is to think differently and purchase with as much down as possible rather than purchase with as little down as possible.

If a home buyer were to purchase with 20% down they would often receive a lower interest rate, lower monthly fees, and of course lower mortgage amount.  This would allow them to pay off the house more quickly.   Now this thinking requires something unpopular… saving money!  Saving money can be done and a great resource I discovered to help with that is the Financial Peace University Course offered by Dave Ramsey.  This class will help you get in a mindset of saving and it also is a comprehensive financial education course that includes topics like insurance and investments.  I highly recommend it!  There is a class staring up locally at Fusion Church in Somers Point, NJ starting September.  You can find a class and register online at http://www.daveramsey.com/

Fusion Church – Financial Peace University Class

701 New Hampshire Avenue,Somers Point, NJ
Starts: Sep 23rd at 6:45pm

 Here is a link to changes in USDA eligible areas.   Eligible Areas Of Galloway Township Below:

Map Of Eligible areas of Galloway Township, NJ for USDA financing as of October, 2014.