Aug
18
Whenever you do something that requires pulling your credit report, such as applying for a loan, your credit report gets hit with an inquiry. Different credit inquiries can stay on your credit report for different lengths of time. What is a hard inquiry? A hard inquiry happens when a financial...
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Aug
17
While mortgages of some sort have existed throughout history, the current mortgage industry looks very different from the past. The ancient Hindu script, Code of Manu, condemns deceptive and fraudulent mortgage practices. The ancient civilizations of Greece and Rome created a market system for mortgages based on the ancient Talmudic...
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Aug
16
After signing a contract on a home you just purchased, you'll need to have the home inspection completed. It's an opportunity to see what you're getting yourself into and a high-level overview of the home's condition. While home inspections can be exciting they can also be exhausting. The home inspection...
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Aug
16
When thinking of how to spruce up your home, concerns about the garage door rarely come to mind. However it can be very important for your home's overall curb appeal - a factor that plays an important role in your home's overall value. If your garage door is bland and...
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Aug
15
Changing or rekeying locks might not be the first thing on your mind when moving into a new place. In reality, this should be the first thing you do before moving in. It's likely there are other copies of the previously-used key. Changing the locks will protect you if any...
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Aug
15
Settling into a new home can be, paradoxically, both busy and relaxing, as you pack and unpack boxes before finally slumping onto your new couch. With some creative thinking, you can cut back on the stress of settling into a new home and streamline those busy moments. Other than packing,...
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Aug
15
Homeowners in Connecticut pay some of the highest property taxes in the country. The average effective property tax rate is around 1.83%, which ranks as the eight highest tax rate among all the states. The property taxes are also entirely administered by cities and towns. Homeowners deal directly with local...
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Aug
14
Different loan programs target different buyers. A mortgage application assesses many aspects of your financial situation, such as your debt-to-income ratio, credit score, household income, and your own loan preferences. It is always recommended to stay informed on the types of loans available to you. Two popular loan types are...
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Aug
14
Thursday, August 10th, started off like a normal work day at Garden State Home Loans. Then it turned into a fun and enjoyable team building evening. The fun started at 4 pm with refreshments at the office. Two hours later, the party continued at the Amazing Escape Room in Cherry Hill,...
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Aug
11
Here's a list of NJ property tax rates. The local government in New Jersey administrates all property taxes and the property tax rates which vary by county. The table below shows the average effective property tax rate for each county in New Jersey. County Average Effective Property Tax Rate Atlantic...
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Aug
11
During the hot summer months, you may be tempted to crank up your air conditioning. However, this results in high energy bills. One inexpensive strategy to stay cool is opening windows. Here are a few low cost tips and tricks to cool down your home during the hot summer months....
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Aug
11
During the home buying process, home appraisers and home inspectors are both crucial when evaluating a home. For a buyer, a home appraisal, conducted by a person called a home appraiser, is required before approving customers for a loan. A home inspection, conducted by a home inspector, examines the property's...
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Aug
10
In Pennsylvania, Property taxes vary greatly from different area. Property taxes are administrated ate the county level in Pennsylvania and each county has its own system for determining assessed value. Here we use the average effective property tax rate which is equal to the annual property as a percentage of...
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Aug
10
The home buying process is a fun and exciting time, however it requires time and focus. Consider listening to music during the mortgage application process. According to research at Johns Hopkins Medicine, music impacts emotions, motivation, reduces anxiety, improves mental alertness, and memory. Find the right genre for you during...
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Aug
09
When purchasing a new home, it is important to consider multiple types of mortgage loans. The mortgage application process considers many aspect of your financial situation such as credit score, income, loan preferences, and debt-to-income ratio. Two popular loan options are FHA loans or conventional loans. Both loans assist borrowers...
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Aug
08
When purchasing a home, there are many elements to consider during the mortgage process. Below are a few frequently asked questions first-time homebuyers are asking. 1) What homes can I afford? Can I afford a mortgage? Before starting the home buying process, examine your financial situation for possible homeownership opportunities....
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Aug
08
Investment Properties & Airbnb: An Overview In 2016, about 65% of Americans went on vacation (for at least 1 day). People are traveling fairly often all throughout the country, but sometimes you can't always find a cheap or desirable hotel where you're vacationing. Additionally, staying in a hotel means you're...
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Aug
08
The Veteran's Administration loans, or VA loans, are a home-mortgage option available to veterans, current or former members of the national guard, an active reserve member, or a surviving spouse in the United States. They are issued by qualified lenders and guaranteed by the U.S. Department of Veterans Affairs. There...
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Aug
08
3D Printed Houses: An Overview Since 2000, 3D printing as a construction tool has grown across the globe. Countries including China, Russia, Australia, and the Netherlands are big players in the 3D printing construction industry. The United States is also taking advantage of this technology with 3D printed buildings located...
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Aug
07
Moving with Cats Moving can be a stressful process, especially for your pets. Keep an eye on your cat during this crazy time. Cats may be territorial and attached to their current home. When changing homes, cats may have very weird tendencies and reactions to the new environment. Cats and...
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Aug
07
Mortgage Loan & Pre-approval Document Checklist (with PDF) Mortgage Loan Document Checklist PDF Download If you are house hunting and already have a shortlist of a few homes that you like, it may be time for you to get a head-start on gathering all your documents. If you have most...
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Aug
07
Owned by President Donald Trump, the Mar-A-Lago private country club is highly regarded as one of the best private clubs in the world. Mar-A-Lago is located in beautiful Palm Beach, Florida and is known as a playground for the rich. Living in this neighborhood is a luxurious dream come true....
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Aug
07
When purchasing a home, there are many important decisions to consider, especially decisions about the terms of your mortgage loan. One decision you must make is your loan's duration. There are a variety of options available, from 3 and 5 year mortgages to 10 and 20 year mortgages, but typically...
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Aug
07
Purchasing a home is one of the most important expenses during a lifetime. For first time homebuyers, this process is exciting and stressful. While buying a home can complicated and intimidating, there is an extremely rewarding end result. There are many myths surrounding the home buying process, it is important...
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Aug
07
So, you finally closed on your new home. But, just as there was a closing process, there is a post-closing process. Many people are unaware of this step, as it is typically handled by the title company and involves clearing up discrepancies between documents. After closing, your mortgage file goes to...
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Aug
04
What is a HomeReady Mortgage? The HomeReady Mortgage program is a loan option offered by the Government Sponsored Enterprise (GSE) Fannie Mae. This program provides prospective borrowers with both an affordable and educational mortgage experience. HomeReady mortgages offer affordable and cancellable mortgage insurance, as well as a low 3% down...
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Aug
04
Refinancing can be a confusing and overwhelming process, as there are a variety of different options available to you. But don't fret, you're not alone in your confusion. Many people struggle to understand the complex differences between the many types of refinance loans. One type of refinance loan, rate and...
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Aug
04
If searching for a home as a dog owner, you'll probably have to take your dog's needs into consideration at some point. One thing to keep in mind is whether or not there is a dog park in the home's neighborhood. A dog park can be a great way for...
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Aug
03
Understanding the Seller's Market The basic theory of supply and demand impacts housing market. As people are pursuing homeownership, there are less housing options available. Our country is currently facing a short supply of houses, leaving sellers in the driver's seat. Housing prices are increasing due to low supply from...
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Aug
03
An overview of the 15-year mortgage When purchasing a home, it is vital to research a variety of mortgage options. Consider a 15-year mortgage. Although 15-year mortgages are not as common as 30-year mortgages, both plans offer great opportunities for home buyers. According to the Mortgage Bankers Association, only 5%...
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Aug
02
If you're looking to refinance your mortgage, there are different options available for you to choose from. One option is cash-out refinancing. Cash-out refinancing allows homeowners to tap into the equity of their home and get cash back in return. This is done by refinancing your home with a loan...
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Aug
02
Buying a home is an important decision, both financially and personally. You need to properly manage your finances in order to accommodate a home purchase and devote time to finding the lender that's right for you. Because purchasing a home and applying for a mortgage can be so complex, there is...
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Aug
02
How do I know if I qualify as a first time home buyer? The qualifications for first-time home buyers are broader than perceived. According to the Federal Housing Administration (FHA), there are many factors considered to qualify as a first time home buyer. The following criteria are qualifications to be...
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Aug
01
Hunting for a new home can be an exciting and stressful time. Before settling on a new home, consider factors such as mortgage payments, post-closing costs, school districts, and local shopping complexes in your home purchasing process. A condominium, also known as a condo, is an individually owned apartment in...
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Aug
01
Have you recently reviewed your credit report and discovered errors? Is the wrong name or address listed in your report? Is there a credit card recorded that is not yours? Does it list an account as unpaid that you know you have paid off? If you answered yes to any of...
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Aug
01
When considering a new mortgage or refinancing a current mortgage, many lenders suggest paying your taxes and insurance through an escrow account. What is an Escrow Account? An escrow account ensures taxes and insurance are paid on time, as well as protects the lender from losses. While some lenders require...
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Aug
01
In order to get a loan for a prebuilt delivered modular home, you will need a construction loan. A construction loan is a short-term loan that usually lasts no longer than a year and is paid off as different parts of the house are completed. After the construction is complete, and an...
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Aug
01
Construction to Perm Loans: An Overview If you’re having a home built for you, it’s important to understand how to obtain the proper financing. More than likely, it will be worth your while to look into a construction to permanent loan. A construction to permanent (CP) loan is essentially two...
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Jul
31
Is it possible to refinance a mortgage with a low credit score? Answer: Yes. The downside, however, is that you will receive high interest rates and otherwise undesirable terms for the mortgage. Before thinking about refinancing or purchasing a mortgage, you should find out what your credit score is and...
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Jul
31
Income and Mortgage The thought of losing your home can be terrifying, especially if you've been doing your best to make your monthly mortgage payments. Life can take many twists and turns, and your financial situation may change from when you first took out a mortgage. If this sounds like...
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Jul
31
Water damage can be difficult to detect, and could even go unnoticed for months, but there are a few tell-tale signs that your home may be suffering from such damage. By keeping an eye out for any structural problems and regularly inspecting your home, you can avoid a dangerous escalation...
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Jul
31
Banks vs Brokers With a variety of home-financing options available, purchasing a home is a confusing process. It may be difficult to find the best option for you. While looking into mortgage loans, consider big banks and mortgage brokers. Research advantages and disadvantages of both mortgage options before making a decision. The...
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Jul
31
Every year, millions of young adults continue their education by attending college. Although college opens many opportunities to pursue careers and interests, attending higher education may also result in large student loans lasting years. Federal Student Loans require 10-year repayment plans for all student loan borrowers. However, on average, student...
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Jul
31
When buyers sit down to close on their home purchases, they will be presented with a long list of costs, made up of things like closing fees and insurance payments. These closing costs can get quite complicated— varying by location, property style, and loan type, among many other things. If...
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Jul
28
Are you a first-time homebuyer? Do you feel overwhelmed and intimidated by the often complicated terminology used in the mortgage industry? Do you not even know where to begin with applying for a mortgage? If this sounds like you, don't fret! There are plenty of internet resources that you can...
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