Advice Archives

Mortgage Rates Hit 8%: A Historic Milestone

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

For the first time since the turn of the millennium, average mortgage rates have surged to 8%. This is a significant development for both homebuyers and homeowners in New Jersey and across the nation. At Countryside Homes NJ and , we understand the implications of this change and are here to guide you through what this means for your real estate journey. Source: Google A Look Back: The Year 2000 The last time we saw mortgage rates hover around the 8% mark was in the year 2000. It was a different era: the dot-com bubble was at its peak, Y2K […]

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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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The Risks of Selling Your Home on Your Own

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

Considering the path of For Sale by Owner (FSBO) for your home? It’s essential to understand that this route demands more time and expertise than anticipated. While the prospect of managing the sale independently is appealing, be aware of the risks of selling your home on your own. A recent piece from Bankrate highlights: “Choosing the right price, crafting a compelling listing, marketing to potential buyers, coordinating showings, preparing paperwork: All of these are tasks that, in the absence of a real estate agent, you will have to do yourself.” There’s a lot more that goes into selling your home

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Types of Mortgage Loans

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

Understanding Different Types of Mortgage Loans Welcome to Countryside Homes NJ and , your trusted partners in finding the perfect home in New Jersey’s picturesque countryside. As part of our commitment to ensuring a seamless home-buying experience, we’ve compiled a guide to help you understand the different types of mortgage loans available. Whether you’re a first-time homebuyer or looking to refinance, understanding your mortgage options is crucial. 1. Fixed-Rate Mortgages (FRM) Overview: The interest rate remains constant throughout the life of the loan. Benefits: Predictable monthly payments; protection against rising interest rates. Best For: Homebuyers who plan to stay in

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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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