Come check out this fantastic house for sale in Egg Harbor Twp. NJ. Priced to sell at $190,000. This spacious 3 bedroom, 2 bath ranch home is on a 1 acre lot in a quiet section of Egg Harbor Township.
Gourmet Kitchen with double oven, granite counters, and soft-close drawers. Tankless hot water, radiant heat flooring, new front windows, wood stove, master bed with walk in closet, deck, 2 car garage and a fantastic back yard.
Do you know anyone who would like to own their own Grocery Store? This 7,000 square foot specialty grocery store is available for sale. The store specializes in south asian cuisine. The store currently brings in about $85,000 a month in income. All fixtures and equipment are included. High traffic location and centrally located. Contact me for more details.
Many people continue to rent for fear of the unknowns of home buying. We’ve shared some information on several great programs for first-time home buyers in our last post. But what if you don’t have a down payment? There are some programs which allow no money down, but certain criteria must be met.
USDA Loans are backed by the U.S. Department of Agriculture (USDA). These loans are also known as rural housing or rural development loans as they provide help with the purchase of houses located in certain rural areas and include zero down payment mortgage options for borrowers who qualify. Criteria for qualification includes household income, number of people living in the home and other factors such as approval of the property you are purchasing by area and size among other parameters.
USDA offers a helpful tool on their website to easily calculate the numbers you enter to determine your eligibility. Two types of single-family home loans are available with USDA, Single-Family Direct Home Loans and Single-Family Guaranteed Loans. Both programs have specific requirements for potential buyers which are outlined on the website. You can also search an address for eligibility to determine if a property in a small town or rural area of Atlantic County is covered. For example, just south of Egg Harbor, Corbin City is an area where there may be eligible homes due to its rural designation.
VA Loans programs assist active military members and veterans through the U.S. Department of Veterans Affairs. These loan programs don’t require private mortgage insurance and they have no down payment mortgage options. While these loan programs are provided by private lenders and mortgage companies, the VA guarantees a portion of the loans to get the borrowers the best rates possible. This program is also available to surviving spouses of military personnel and veterans as well.
The New Jersey HomeSeeker Program now offers $10,000 down payment assistance grants for residents of Atlantic, Burlington, Camden, Essex, Gloucester, Mercer, Passaic and Union Counties. This grant is available for first-time homebuyers who qualify and obtain first mortgage financing through the New Jersey Housing and Mortgage Finance Agency’s (NJHMFA) Homeward Bound mortgage program. Contact our office to see if you qualify.
For more information on no down payment mortgage options, check out this information from Investopedia. As always, Matt Haviland with The Haviland Group and Keller Williams Realty 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.
You’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.
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.
As a real estate agent I’ve helped dozens of first time home buyers over the years and I’ve learned there are 3 things you should know before buying a home as a first time home buyer. Now the first one may be a surprising and the second two may be obvious. So lets dig in to these three items now.
Many first time home buyers feel like they have to buy a house! We just got married – have to buy a house. I just graduated college… time to buy a house. I’m 38 years old and live in my parents basement… you really should buy a house then!
So here is my point. Just because you are at a certain stage in life does not mean you should buy a house. One of the big problems I see is people want to buy a house who really can’t afford it. Maybe they’ve just graduated college but have a huge amount of debt or student loans. It may be best to pay off the debt first and then save money for down payment before purchasing. Also it’s not wise to buy a home unless you see yourself living there for at least 5 years. Renting is a great option if you’re not ready to buy. Don’t listen to everyone who says you have to buy a house.
The biggest step as a first time home buyer is to qualify for a mortgage, what loan program to use and how much you can afford. The mortgage company will look at credit scores, debt and income to determine if you qualify for a mortgage. You’ll also want to determine what mortgage program is right for you. I always recommend a conventional loan at 20% down payment to avoid paying a mortgage insurance premium every month. There are other programs with zero down like a USDA or VA loan, and low down payment options like 3.5% down with FHA. It’s important to select a local mortgage company and loan officer who knows the area and all available loan options including any local grants and programs for first time home buyers.
Everyone knows someone in real estate, right? Selecting the right real estate agent is the next biggest step as a first time home buyer. Selecting an agent because they are a friend or friend of the family can be a disaster. When interviewing or researching an agent here are a few great questions to ask:
These are simple questions and important ones. When you are making one of the biggest financial decisions of your life do you want someone helping you who is inexperienced, unresponsive and not organized?
Hopefully my 3 things you should know before buying a home as a first time home buyer helped you out as you start to look for your first home. Of course if you need a great mortgage consultant and real estate agent we are here to help. Contact me for a free consultation.
Best wishes,
Matt
You can see a success story of one of my first time home buyers here.
I just listed a lovely home for sale. It’s located at 2403 Lahn Lane, Mays Landing, NJ 08330. The home is located in the fantastic executive Hamilton Walk community. It features a 1 acre private lot yet close to major roadways and shopping. The neighborhood is just down the street from the Atlantic City International Airport, FAA Technical Center, Air National Guard and Coast Guard. It’s also a short drive to Atlantic City and less than a mile to the Expressway East and West ramp toward Philadelphia.
The home features a great layout with Game room/family room, office, dining room and great room with updated eat in kitchen and family room. Newer stainless steel appliance, granite countertops in the kitchen and laminate wood floors throughout first floor. Bonus room on the 1st floor currently used as 4th bedroom. Master suite has his and hers closets and large master bath. Large outdoor deck with built in bench seating. Fantastic back yard. This home and grounds are beautifully maintained. The list price is $268,000. Contact me for details or to schedule a showing.
Did you know that the NJ Hardest Hit Fund has funds available to help home owners facing foreclosure?
New Jersey HomeSaver program offers eligible homeowners up to $50,000 in financial assistance to help bring their household monthly payment to an affordable level by using HHF funds to facilitate a refinance, recast, or permanent modification of the first mortgage loan.
THIS PROGRAM NO LONGER EXISTS VISIT OUR RESOURCE PAGE FOR CURRENT FORECLOSURE AND MORTGAGE ASSISTANCE PROGRAMS. https://sjhouses.com/foreclosure-help
Matt
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
HOUSEHOLDS
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
It’s back! The HomeSeeker Downpayment assistance program has funds available now to issue $10,000 grants to first time home buyers. These grants are only for the following counties: Atlantic, Burlington, Camden, Essex, Gloucester, Mercer, Passaic and Union.
HomeSeeker loans are only available to eligible homebuyers who obtain first mortgage financing through the New Jersey Housing and Mortgage Finance Agency’s (NJHMFA) Homeward Bound mortgage program. The $10,000 is forgivable after 5 years of owning the home. The home must be a primary residence.
If you would like to know if you qualify for the HomeSeeker grant I’ve arranged a free mortgage consultation with my preferred lender approved by the NJHMFA to fund the HomeSeeker loans. Contact me below for a free consultation. There are limited funds available on a first come first serve basis. Contact me now to see if you qualify.
Recently past client’s of mine came in to my office. They received notification from their bank that the home was sold and they need to get out of the house. They had been behind on their mortgage payments and had attempted to work out a modification but it was not successful. Their house was located in Atlantic County in southern NJ.
Normally, in our county the foreclosures run through the sheriff’s office and usually the owner of the house is notified of the sale and can even postpone the sale for at least a month. However in this case the house was sold to an investor and the deed was recorded with the county clerks office. I advised that my client’s seek legal advice since there was little I could do to help at this point.
If you or someone you know is facing foreclosure contact me immediately. I’m here to help home owners keep their home when possible or avoid foreclosure through a short sale. Contact me for a private complementary consultation.
Matt
P.S. If you or someone you know is facing the stress of foreclosure and not knowing if you will still have a roof over your head contact me for help and options.