Robert's Blog

Mortgage and Lending - HomeBridge Financial Services (NJ) - NMLS 248937
Mortgages are available in all shapes and sizes, no money and low down payment plans are still available, and dont forget to get qualified prior to shopping to be sure you are looking in the right price range.
 The majority of  FannieMae changes in 2017 have made it easier to qualify for a conventional mortgage.For this article I will discuss a few of the most beneficial changes. Student Loans are arguably one of the biggest issues for many first time buyers when it comes to qualifying for a mortgage. ...
  In most of New Jersey and in many parts of the country there is an inventory shortage in the housing market.  This has caused problems for buyers and created a sellers’ market. Buyers want great houses in great locations. Even great houses in not-so-great locations are getting plenty of attenti...
 We keep getting good news in the Real Estate world as the market is heating up.  The bad news for buyers:   Rates have been creeping up and may continue to do so through the year. Housing prices have been climbing in most markets. Just today we received the report on existing home sales climbing...
 The Department of Housing and Urban Development announced it suspended the reduction of Mortgage Insurance Premiums, effective immediately. HUD sent out an announcement just an hour after President Trump was sworn in on Friday, stating that the cuts have been suspended indefinitely. The letter s...
 In my Blog  posted last week I provided details for the change in the FHA Mortgage insurance, their is a strong possibility that will NOT happen The MBA of America just sent out a notice that:THERE IS A STRONG CHANCE THAT WHEN DONALD TRUMP TAKES OFFICE HE MAY "ROLL BACK" THE NEWLY ANNOUNCED FHA ...
 If you are a Conventional Buyer there is some GREAT news.  Conforming loan limits are up for 2017.  This is particularly GREAT news since this is the first increase in the Base amount since 2006.  The Real Estate market is strong, and prices have been climbing.Since 2006 the base limit has been ...
 With prices increasing we have loan limits climbing as well.  For FHA this is based on where you are buying.  If your home is in a "Low Cost Area" Here are your limits": If you are in a "High Cost Area" (Most of NJ, where I am licensed, falls into the High Cost Area): These may not be huge incre...
 UNFORTUNATELY THIS PENDING CHANGE WAS RESCINDED BY HUD 1/20/2017Well, that title may be a little deceiving, they never really left, they just were too expensive for the past few years- and because of this we have been opting for Conventional loans more often than FHA.FHA's first Mortgagee Letter...
  The first Friday of the month always brings the Employment report for the previous month.July Non-farm Payrolls are reported up 255,000 -- with the jobless rate unchanged at 4.9%. May and June payrolls were revised up 18,000. This is a "Good News" Report... and if you were not aware- Good news ...
 Have you heard of “Trended Data”?FannieMae’s Desktop Underwriter will require Trended Credit Data with the release of DU 10.0 on September 24, 2016. (This was originally scheduled for June 24th but was postponed)Trended credit data will show if a client carries a balance every month or if they p...

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