How Is Real Estate in Bergen County?

Posted by & filed under Buying, For Sale or Rent, Selling.

How’s Real Estate in Bergen County so far this year?  Let’s take a good look. Using NJMLS Data Correctly We are at the start of a new year.  As a result, it’s necessary to look at the market data from a different perspective.  This is because January and February closings originated last year with rare exception (30-45 day cash sales).  So what do you use? You use under contract figures. …

How to Get A Great Mortgage Rate

Posted by & filed under Uncategorized.

The Best Place to Start How to get a great mortgage rate involves several different aspects of your life.  While all of them are important some are more so than others.  The best place to start is to find a great banker.  I’ve said it before and I’ll say it again – I love the internet but nothing replaces a great mortgage professional. A great banker will do more than…

Should You Refinance Your Mortgage Now?

Posted by & filed under Homeowner Tips.

Lately I’ve been asked about refinancing quite a bit.  Homeowners are beginning to worry – they sense that interest rates won’t stay this low for much longer.  Just consider what’s been in the media lately. The Fed has indicated that it may start to raise rates in June though gradually.  Credible financial sources are sending out articles and quotes stating that rates will begin climbing later this year.  Professional mortgage…

Fannie Mae and Freddie Mac Are Easing Jumbo Mortgage Terms

Posted by & filed under Buying, Selling.

Fannie Mae and Freddie Mac buy mortgages which means that they guarantee them. Without the backing of Fannie and Freddie, mortgage lenders have to find other investors to sell their mortgage loans to and those investors charge more so interest rates are higher. Fannie and Freddie backed mortgages are called conforming; the others are called jumbo. The limit on a conforming mortgage is $417,000 but that is about to change….

Help Your Mortgage with a Credit Score Tip

Posted by & filed under Buying.

Buying a home for most of us means getting a mortgage.  Mortgage rates become a prime issue for home buyers as does their credit report.  The interest rate on that mortgage is determined in large part by your credit score. Whether or not you qualify for a mortgage is often determined by your credit score alone.  It is true that income, debt and assets are important but your credit score is the first determining factor. …