Buyer Archives

Who Are Fannie Mae, Freddie Mac, and Ginnie Mae?

Advice, Buyer, Mortgage, Real Estate / By Keith LaBrunda - RE/MAX Select

Welcome to Countryside Homes NJ and , your trusted real estate partner in New Jersey. As we guide you through your home buying journey, it’s essential to understand the question, “who are Fannie Mae, Freddie Mac, and Ginnie Mae?” They are three government-sponsored entities that play a pivotal role in the U.S. housing market and are some of the key players in the mortgage industry. Let’s delve deeper into who they are and what they do. Fannie Mae (Federal National Mortgage Association) Overview:Fannie Mae, founded in 1938, is a government-sponsored enterprise (GSE) that operates in the secondary mortgage market. Its […]

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What is a Conventional Mortgage?

Advice, Buyer, Mortgage, Real Estate / By Keith LaBrunda - RE/MAX Select

Welcome to Countryside Homes NJ and , your trusted partners in navigating the real estate landscape of New Jersey. One of the most common questions we encounter from our clients is, “What is a conventional mortgage?” We understand that the home buying process can be overwhelming, especially when it comes to financing. That’s why we’ve put together this guide to help you understand conventional mortgages and how they work. What is a Conventional Mortgage? A conventional mortgage is a type of home loan that is not guaranteed or insured by the federal government. Instead, it is backed by private lenders,

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Understanding a VA Home Loan

Advice, Buyer, Mortgage, Real Estate / By Keith LaBrunda - RE/MAX Select

At Countryside Homes NJ and , we believe in empowering our clients with knowledge to make informed decisions. One of the unique mortgage options available to certain homebuyers is the U.S. Department of Veterans Affairs VA Home Loan. Here’s a comprehensive guide to understanding a VA home loan: What is a VA Home Loan? A VA Home Loan is a mortgage available to veterans, active-duty service members, and select military spouses. It’s backed by the U.S. Department of Veterans Affairs and offers several advantages over traditional mortgages. Key Benefits of VA Mortgages: No Down Payment: One of the most significant

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Understanding an FHA Mortgage

Advice, Buyer, Mortgage, Real Estate / By Keith LaBrunda - RE/MAX Select

Purchasing a home is a significant milestone in anyone’s life, and at Countryside Homes NJ and , we’re here to guide you every step of the way. One of the most popular mortgage options for first-time homebuyers is the Federal Housing Administration (FHA) mortgage. Let’s delve into understanding an FHA mortgage, how it works, and how it can benefit you. What is an FHA Mortgage? An FHA mortgage is a government-backed home loan insured by the Federal Housing Administration. Established in 1934, the FHA aims to help Americans achieve the dream of homeownership by offering more lenient lending standards than traditional

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How a Home Equity Conversion Mortgage (HECM) for Purchase Can Benefit Seniors

Advice, Buyer, Mortgage, Real Estate, Seller, Senior Housing / By Keith LaBrunda - RE/MAX Select

At Countryside Homes NJ and , we understand that every homeowner’s journey is unique, especially as they venture into the golden years. That’s why we offer personalized real estate solutions to meet the diverse needs of our senior clientele. One such solution is the Home Equity Conversion Mortgage (HECM) for Purchase program, which can open doors to a new home while simultaneously providing financial flexibility. Here’s how a Home Equity Conversion Mortgage (HECM) for Purchase can benefit seniors eyeing a new residence: Rightsize with Ease: A HECM for Purchase allows seniors to buy a new principal residence using the proceeds

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Why Would You Want to Move in Today’s Housing Market?

Advice, Buyer, Real Estate / By Heather Montalbano - RE/MAX Select

Why would you want to move in today’s housing market with all of the uncertainty around home affordability and mortgage rates? If you’re contemplating the sale of your home at this time, it’s likely due to a significant change in your life. While factors like mortgage rates undoubtedly influence your decision, it’s crucial not to let them overshadow the core reasons that initially prompted you to consider moving. Certainly, the current higher mortgage rates have an impact on affordability, causing some homeowners to delay selling in reluctance to face elevated mortgage rates for their next residence. Nevertheless, your lifestyle and

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Buying a Multi-Generational Home Improves Affordability

Advice, Buyer, Real Estate / By Keith LaBrunda - RE/MAX Select

In today’s era of soaring housing expenses, a growing number of prospective homebuyers are seeking innovative solutions to make homeownership a reality. One such solution gaining popularity is multi-generational living. Multi-generational living entails two or more adult generations cohabiting under one roof, including siblings, parents, or even grandparents. This article delves into why an increasing number of buyers are gravitating towards this housing option today and explores whether it might suit your needs. Advantages of Purchasing a Multi-Generational Home A recent study conducted by the National Association of Realtors (NAR) highlights the top two reasons behind the surge in multi-generational

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Are High Mortgage Rates the New Norm?

Advice, Buyer, Market Trends, Mortgage Rates, Real Estate / By Keith LaBrunda - RE/MAX Select

Over the past few years, mortgage rates have been steadily climbing, attracting significant attention from the media. Those who have been keeping tabs on the headlines may have noticed that rates have recently reached their highest point in over two decades, as illustrated in the graph below. For those contemplating a significant move, this uptick in rates might feel like an unexpected setback. If you’re deliberating whether to postpone your plans or forge ahead, here’s the essential information you need. Understanding the Impact of Elevated Mortgage Rates There’s no denying that mortgage rates are currently higher than they have been

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Homeownership Grows Your Net Worth

Advice, Buyer, Real Estate / By Keith LaBrunda - RE/MAX Select

Consider for a moment where you envision yourself in the coming years. Perhaps you’re pondering your career, financial aspirations, seeking stability, or imminent objectives. Does owning a house fit into this picture? If so, it’s essential to recognize the myriad financial advantages of owning a home, and how homeownership grows your net worth. A compelling reason to purchase a house is its potential to enhance wealth and ensure financial security. This is attributed to the fact that the majority of homes appreciate in value, subsequently boosting your overall assets. Currently, home values are on an upward trajectory. As Zillow states:

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Recognizing the Advantages of Owning Your Home

Advice, Buyer, Real Estate / By Keith LaBrunda - RE/MAX Select

Considering a home purchase for the first time? Recognizing the advantages of owning your home and understanding the reasons others have taken this step can be enlightening. A PulteGroup survey of first-time homebuyers revealed: “When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the desire to stop renting or recognition that homeownership is a smart financial investment was the main motivator for 72% of respondents.” Owning a Home Offers Greater Stability than Renting The escalating rent might motivate you to seek stability. As a tenant, there’s always the looming possibility of

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