I always tell my clients that “I sell houses, not loans” and direct them to my favorite Weichert Financial Services manager – Brian Wagenseller, who can be reached at 908-310-5122. Brian sent out a newsletter this afternoon so I thought I would share some highlights of available mortgage options:
State bond programs (not available in every state)
– Very popular programs. Loan amount limits and downpayment requirements vary.
– NJ, PA, VA and MA have monetized the tax credit to be made available at closing.
FHA financing
– As little as 3.5% down. Loan amounts up $729,750 in certain areas.
VA financing
– No Money Down up to $417,000.
Conventional financing both conforming & jumbo
– Loan amounts up to $729,750
Home Improvement Financing
– An FHA 203(k) Mortgage enables buyers to combine purchase and renovation financing
– Jumbo Financing up to $1,750,000
– Fixed Rate Bi-Weekly Payments and Various ARMS Available
Super Jumbo financing – Unlimited Maximum Loan Amount
– Provided to high net worth borrowers. Guidelines vary by client profile.
Reverse Mortgages
– 62 and older
– No income or credit qualification
– No monthly payments
– Available for purchases (great for Seniors considering downsizing)
Feel free to contact me or comment about this information, but remember: I sell homes, not loans, so I might not be your best resource. However, I can be your connection to the resource!
If you are ready to get started, you can sign up for daily or weekly listing alerts of Basking Ridge homes for sale. You have six more months to take advantage of the tax credit!
This week’s market activity will be posted tomorrow evening.
