Tag Archives: buyers

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Feb 2019 Atlantic County Announces First Time Home Buyer Grant Money Now Available – $10,000

It's back! $10,000 available for Atlantic County, NJ First Time Home Buyers

Good news!  As of today the Atlantic County, NJ grant program is now funded with grants available of up to $10,000 for first time home buyers!  All funds are forgiven after 5 years.  This program is administered through the Atlantic County Improvement Authority.  This program does not work for everyone so I’ve outlined the key requirements below.  If you don’t think you’ll qualify for this program the state grant program is also giving $10,000 grants and it’s easier to qualify.  Click here for details on the state grant.  You will need to be pre-qualified by an a approved mortgage company.  My preferred lenders are on stand by to help qualify potential first time home buyers asap and get them qualified to receive the grant money.  Complete the form below and we’ll reach out to see if you qualify.

Atlantic County, NJ First Time Home Buyer Grant Money Is Now Available

Eligible Applicants:

     HOUSEHOLDS

  1. Who have resided in Atlantic County for the last 12 months or are employed in Atlantic County.
  2. Who have not owned a home for the last  three years.
  3. With acceptable credit history and the ability to obtain an approved mortgage.
  4. With incomes below 80% of Median income:

These income levels are (2019):

# of Household Members 80% of Median Income

1 Person

$42,850

2 Persons

$49,000

3 Persons

$55,100

4 Persons

$61,200

5 Persons

$66,100

6 Persons

$71,000

7 Persons

$75,900

8 Persons

$80,800

If you or someone you know may be eligible to qualify for this grant please call me for more details at 609-338-3773.  Time is limited and funds are usually gone in a few months so please call me now.  Matt

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Keller Williams Realty Atlantic Shore Is Outperforming The Market

Once again our market center is outperforming the market.  As many of our competitors businesses are contracting we continue to grow while providing maximum benefits for our clients.

Keller Williams Realty Atlantic Shore Is Outperforming The Market

The chart below compares Keller Williams Realty Atlantic Shore and the entire South Jersey Shore Regional Multiple Listing System (all real estate brokers combined).  We are outperforming the market in every category.  Our main office is in Northfield NJ and we also have offices in Brigantine and Little Egg Harbor NJ.

Keller Williams Realty Atlantic Shore

 

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Use a Mortgage Payment Calculator to Help Find Your Atlantic County, NJ Home

Mortgage Payment Calculator

When it’s time to buy a home, chances are you’ll need to find a lender and get a mortgage approved. It’s ideal to know ahead of time the maximum amount you’ll qualify for from your chosen lender. After you know how much of a loan you can get, and you begin house hunting, you’ll need to find out just how much a house will cost before you make an offer. So, how do you figure this out you may ask? This is where mortgage payment calculators come in.

When you can plan a budget before you buy a home you can save yourself a lot of time and potential money. By providing some basic information about a listing you’re interested in, with a mortgage payment calculator, you can get an estimate of the overall costs of a property, or several properties if you’re looking to compare.

Mortgage Payment Calculator for Atlantic County NJ

As an online resource, mortgage calculators can also give you an idea of what type of loan you may want to apply for. Through showing you variables, which impact mortgages such as interest rates and down payment amounts, you’ll be equipped to determine the best home loan budget for you. With the help of a mortgage payment calculator for buying a house in Atlantic County, NJ, you can get insight into what to expect, including taxes or HOA fees if they’re applicable.

As a home buyer, one of the best decisions you can make is to educate yourself about the process and how each step will affect you. You’ll have a lot of decisions to make; these are major financial and lifestyle decisions worth taking the time to understand so you can buy with confidence and be happy in your new home. When you utilize a tool such as a mortgage payment calculator you give yourself a valuable resource, knowledge.

Mortgage Calculator

You can find mortgage calculators through different lender and real estate sites, or check out the mortgage calculator below to begin. When it’s time to buy a home, work with a Realtor® who has a passion in helping their clients find solutions towards achieving their home dreams. Get the conversation started with Matt Haviland, give him a call today at 609-338-3773 or send him an e-mail.  The Haviland Group and Keller Williams Realty are here to help you find the right home from start to finish.

MortgageCalculator.org

Free Mortgage Calculators

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What is PMI & Do I Need it to Buy a Home?

What is PMI & Do I Need it to Buy a Home

The world of real estate is full of acronyms. Those who work in the business get used to these ‘call letters’, and don’t often give them much thought. For someone who’s new to the home buying process, the various acronyms can be confusing if not simply overwhelming. Understanding key acronyms and basic definitions is an excellent way to gain the knowledge you need to help you buy with confidence. When it comes to mortgage funding, PMI is an acronym you may hear mentioned by lenders. You may have already asked yourself, “What is PMI, and do I need it to buy a home?”

What is PMI & Do I Need it to Buy a Home?

PMI stands for Private Mortgage Insurance, and is often required for a home buyer to purchase alongside their mortgage if their down payment is below 20%. Whether your down payment is less than 20% because you just don’t have the cash, or you have a reserve but want to save it for home improvements after you move in, PMI allows for a lower down payment towards a house.

Typically, when you purchase an insurance policy, you do so to protect your family and property against loss due to damages. PMI works a bit differently. Mortgage lenders are taking on a risk by funding the purchase of a home. If circumstances arise where you can’t pay your mortgage, the lender faces losing a lot of money should the loan go into default.

To help lessen the risk on a property where more than 80% of the sale price is funded by a loan, PMI is required. While you the home buyer pay for this insurance, either as a separate policy payment or incorporated into your monthly mortgage bill, you won’t receive a benefit if a claim is filed. Your lender will. Essentially, PMI helps balance out the risk to loss ratio of a mortgage for the funding institution.

Even though the beneficiary of any claims would be the lender, there are benefits for buyers to get PMI as well. Namely, if you aren’t able to cover the standard 20% down payment, getting a PMI policy will help you get into a home of your own sooner than saving over the long term.

Many home owners also need to only carry PMI with their mortgage loan for a certain period of time. The key is to watch the market and keep appraised of your home’s value compared to your total mortgage loan amount. With appreciation, your home will rise in value. Once your loan to value ratio has shifted so you owe less than 80% of the property value, you can seek refinancing of your loan to do away with the PMI policy, and possibly get a better interest rate, effectively lowering your mortgage payment as well.

There are different types of PMI policies, each one catering to various needs and situations of the buyer and the lender. Learn more about this common element of mortgage funding with this article by Investopedia. Whether you need PMI or not, when it’s time to buy a home, work with a Realtor® who has a passion in helping their clients find solutions towards achieving their home dreams. Get the conversation started with Matt Haviland. Give him a call today at 609-338-3773 or send him an email.  The Haviland Group and Keller Williams Realty are here to help you find the right home from start to finish.

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First Time Homebuyer Mortgage Options Around Atlantic County

First Time Homebuyer Mortgage Options Around Atlantic County

First Time Homebuyer Mortgage Options Around Atlantic CountyYou’ve saved and planned and you’re ready to take the plunge into home ownership. There are many great mortgage choices for first-time homebuyers to consider. This list will break down some of the most popular options and provide links to find out more about the ones you may qualify for.

First Time Homebuyer Mortgage Options Around Atlantic County

FHA Loans are 15 or 30-year loans which are backed by the Federal Housing Administration under the U.S. Department of Housing and Urban Development (HUD). FHA Loans usually allow approval for borrowers with lower credit scores. These loans can also help through low down payment mortgages and lower closing costs. You’ll have to pay a slightly higher rate for mortgage insurance however, which can be paid upfront or annually.

USDA Loans are based on income for qualification and backed by the U.S. Department of Agriculture (USDA). These loans provide help with the purchase of houses located in certain rural areas and include zero down payment mortgage options for borrowers who qualify.

VA Loans are available to active military members and veterans through the U.S. Department of Veterans Affairs and are partially backed by the same. The goal with this program is to assist veterans in purchasing houses. These loans can include no down payment mortgage options and don’t require private mortgage insurance. They do require a one-time funding fee which is a small percentage of the total loan amount.

Good Neighbor Next Door assistance program offers loans for houses which have been foreclosed on at half price to qualified borrowers. This is an incredible program and as such has stringent guidelines. The Good Neighbor Next Door program is available only to borrowers who work in public service sectors as law enforcement professionals, teachers, emergency medical technicians (EMTs) or firefighters. The firefighters and EMTs must also work within the same jurisdiction as the house they are purchasing. These homes are offered in “revitalization areas” as defined by the FHA. These areas generally have a high number of foreclosed properties available.

Fannie Mae and Freddie Mac are government programs which help qualify first-time homebuyers who have low or moderate income with lenders.  The Fannie Mae HomePath Ready Buyer Program in particular offers qualified first-time homebuyers up to 3% toward closing costs for HomePath Properties which were foreclosures under their loan programs.

New Jersey State and Atlantic County Residents can also benefit from some wonderful down payment assistance options outlined in our previous post about First Time Homebuyers Government Programs. Check out the blog post to find out more about first time government programs that are available. These are great offerings specifically for area residents.

The options are too many to list but there’s sure to be something for most any first-time homebuyer to benefit from. For more choices and information see this informative Bankrate article.

Matt Haviland with The Haviland Group and Keller Williams Realty always offers free consultation for first-time homebuyers. Contact Matt today at 609-338-3773 or via e-mail to find out how he can help you.

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May 2018 Atlantic County Announces First Time Home Buyer Grant Money Now Available – $10,000

It's back! $10,000 available for Atlantic County, NJ First Time Home Buyers

Good news!  As of today the Atlantic County, NJ grant program is now funded with grants available of up to $10,000 for first time home buyers!  All funds are forgiven after 5 years.  This programs does not work for everyone so I’ve outlined the key requirements below.  If you don’t think you’ll qualify for this program the state grant program is also giving $10,000 grants and it’s easier to qualify.  Click here for details on the state grant.  You will need to be pre-qualified by an a approved mortgage company.  My preferred lenders are on stand by to help qualify potential first time home buyers asap and get them qualified to receive the grant money.  Complete the form below and we’ll reach out to see if you qualify.

Atlantic County, NJ First Time Home Buyer Grant Money Is Now Available

Eligible Applicants:

     HOUSEHOLDS

  1. Who have resided in Atlantic County for the last 12 months or are employed in Atlantic County.
  2. Who have not owned a home for the last  three years.
  3. With acceptable credit history and the ability to obtain an approved mortgage.
  4. With incomes below 80% of Median income:

These income levels are (2015):

                                                           # of Household  Members 80% of Median Income
1 Person. $37,600
2 Persons $43,000
3 Persons $48,350
4 Persons $53,700
5 Persons $58,000
6 Persons $62,300
7 Persons $66,600
8 Persons $70,900

If you or someone you know may be eligible to qualify for this grant please call me for more details at 609-338-3773.  Time is limited and funds are usually gone in a few months so please call me now.  Matt

Posted on

Atlantic County First Time Home Buyer Grant Money Now Available – $10,000

It's back! $10,000 available for Atlantic County, NJ First Time Home Buyers

Good news!  The Atlantic County, NJ grant program is now funded with grants available of up to $10,000 for first time home buyers!  All funds are forgiven after 5 years.  This programs does not work for everyone so I’ve outlined the key requirements below.  You will need to be pre-qualified by an a approved mortgage company.  My preferred lenders are on stand by to help qualify potential first time home buyers asap and get them qualified to receive the grant money.

Eligible Applicants:

     HOUSEHOLDS

  1. Who have resided in Atlantic County for the last 12 months or are employed in Atlantic County.
  2. Who have not owned a home for the last  three years.
  3. With acceptable credit history and the ability to obtain an approved mortgage.
  4. With incomes below 80% of Median income:

These income levels are (2015):

                                                           # of Household  Members 80% of Median Income
1 Person. $37,600
2 Persons $43,000
3 Persons $48,350
4 Persons $53,700
5 Persons $58,000
6 Persons $62,300
7 Persons $66,600
8 Persons $70,900

If you or someone you know may be eligible to qualify for this grant please call me for more details at 609-338-3773.  Time is limited and funds are usually gone in a few months so please call me now.  Matt

Posted on

Atlantic County First Time Home Buyer Grant Money Now Available – $10,000

It's back! $10,000 available for Atlantic County, NJ First Time Home Buyers

Good news!  The Atlantic County, NJ grant program is now funded with grants available of up to $10,000 for first time home buyers!  All funds are forgiven after 5 years.  This programs does not work for everyone so I’ve outlined the key requirements below.  You will need to be pre-qualified by an a approved mortgage company.  My preferred lenders are on stand by to help qualify potential first time home buyers asap and get them qualified to receive the grant money.

Free Money!

Free Money! $10,000 Grant For First Time Home Buyers

Eligible Applicants:

     HOUSEHOLDS

  1. Who have resided in Atlantic County for the last 12 months or are employed in Atlantic County.
  2. Who have not owned a home for the last  three years.
  3. With acceptable credit history and the ability to obtain an approved mortgage.
  4. With incomes below 80% of Median income:

These income levels are (2013):

                                                           # of Household  Members 80% of Median Income
1 Person. $38,400
2 Persons $43,900
3 Persons $49,400
4 Persons $54,850
5 Persons $59,250
6 Persons $63,650
7 Persons $68,050
8 Persons $72,450

If you or someone you know may be eligible to qualify for this grant please call me for more details at 609-338-3773.  Time is limited and funds are usually gone in a few months so please call me now.  Matt

Posted on

Atlantic County First Time Home Buyer Grant Money Now Available – $10,000

The Atlantic County, NJ grant program is now funded with grants available of up to $10,000 for first time home buyers!  All funds are forgiven after 5 years.  This programs does not work for everyone so I’ve outlined the key requirements below.

Free Money!

Free Money! $10,000 Grant For First Time Home Buyers

Eligible Applicants:

     HOUSEHOLDS

  1. Who have resided in Atlantic County for the last 12 months or are employed in Atlantic County.
  2. Who have not owned a home for the last  three years.
  3. With acceptable credit history and the ability to obtain an approved mortgage.
  4. With incomes below 80% of Median income:

These income levels are (2013):

                                                           # of Household  Members 80% of Median Income
1 Person. $38,400
2 Persons $43,900
3 Persons $49,400
4 Persons $54,850
5 Persons $59,250
6 Persons $63,650
7 Persons $68,050
8 Persons $72,450

If you or someone you know may be eligible to qualify for this grant please call me for more details at 609-338-3773.  Time is limited and funds are usually gone in a few months so please call me now.