Tag Archive | "bergen-county"
2011 FHA Jumbo Loan Limits Bergen County and all NJ
The Federal Housing Administration released approved loan limits on mortgages it would insure in 2011, leaving the ceiling unchanged at $729,750. The Economic Stimulus Act of 2008 and the Housing and Economic Recovery Act of 2008 raised the FHA loan-limit ceiling to help stabilize a shaky housing market. The national floor remains unchanged as well
Continue reading...1st Time Home Buyer Tax Credit Officially Extended
Thursday, November 12, 2009
First time home buyers rejoice!!!! Congress has officially extended the deadline for the $8,000 first time home buyer tax credit to April 30, 2010. Under the extension, the deadline of April 30 refers to the contract date. This means that the 1st time buyer must have a sales contract on a house by April 30 2010 to be eligible, but he/she has an additional 60 days to close the purchase. This means that New Jersey first time home buyers have until June 30th, 2010 to close on their new homes to be eligible for the $8,000 first time buyer break – great news!!! Who is eligible for the $8,000 credit? First-time home buyers and those who have not owned a primary residence in the last three years prior to the purchase. Do income limits apply? Yes – and the income thresholds have increased from the last bill. The full amount of the credit is available to married couples who make up $250,000 per year (adjusted annual gross income) and single filers who make up to $125,000. See the official IRS website for more detail. ________________________________________________________________________________ FREE Home Buying Guide Reveals Insider Tips… Click Here To Get Your Copy Today! ________________________________________________________________________________ Please contact us at 201-943-6800 to schedule your FREE No-Obligation Consultation where we will meet to tailor a program to fit your needs and comfort level for monthly payments and investments.
Continue reading...New Jersey FHA Mortgage Higher Loan Limits are Extended through 2010
Tuesday, November 3, 2009
Last week the U.S. Congress passed a congressional resolution extending the current higher Fannie Mae, Freddie Mac and FHA loan limits through 2010. This extends the current conforming loan limits of $417,000 for most areas in the U.S.
Continue reading...FHA Jumbo Loans – Good for Bergen County and the Northen New Jersey Market
Saturday, October 31, 2009
Have you heard about FHA Jumbo Loans?
Continue reading...FHA Jumbo Loans – Good for Bergen County and the Northern New Jersey Market
Saturday, October 31, 2009
Have you heard about FHA Jumbo Loans? In 2008, the economic stimulus package was put into place. Part of the package was to offer FHA Government Insurance on higher loan limits than in the past. These larger FHA loans are known as FHA Jumbo Loans aka FHA Jumbo Home Mortgage Loan. FHA Jumbo Loans can be used to purchase or refinance a home in Bergen County and other high-cost areas in New Jersey.
Continue reading...Breaking News – $8k Tax Credit Extended (Almost) For FHA Buyers In New Jersey
Saturday, October 31, 2009
Although nothing has been formally passed, The National Association of Mortgage Brokers issued this update on the $8k tax credit yesterday. October 30, 2009 – The $8,000 first-time homebuyer tax credit is set to be extended until April 30, 2010. The Obama Administration has urged Congress to pass legislation to extend the program from its original December 1, 2009 deadline. In addition, legislation may provide a tax credit for some current homeowners. NAMB will continue to monitor legislation and will inform members when the extension is formally enacted. http://nationalmortgageprofessional.com/news14521/namb-legislative-alert-first-time-homebuyer-tax-credit-verge-extension Under the terms of the agreement, the deadline for first-time homebuyers to claim the $8,000 credit would be pushed back to April 30, 2010. But the term “deadline” doesn’t mean the same thing as it does in the current credit.
Continue reading...They took the Streamline out of the FHA Streamline Refinance – New Jersey
Saturday, October 3, 2009
The FHA is changing its FHA Streamline Refinance rules! Streamline, not so much!! Effective January 1, 2010, getting approved for the popular FHA-to-FHA refinance program will be much more difficult. Attached is a copy of the FHA Mortgagee Letter dated September 18, 2009. “ R evised Streamline Refinance Transactions “
Continue reading...Why I Love FHA Streamline Loans for My Borrowers in New Jersey
Monday, August 31, 2009
FHA “streamlined” loans are friendlier! They don’t require a home appraisal and it does not matter if your home is underwater (meaning the appraised value is less than the amount of money you owe on your mortgage loan). FHA streamlined loans are designed specifically for one thing; to reduce a homeowner’s monthly mortgage payment. There is a catch, only FHA mortgage-holders qualify. Here are some quick highlights: No Income Verification! That’s right, no paystubs or tax returns! No Asset Verification! Right again, no bank statements needed! No Appraisal!!! Wow!! Federal Housing Administration (FHA) streamlined refinancing programs have skyrocketed since last year because it’s easy for a borrower to qualify for one. To qualify you need to currently have a FHA loan and also be current on the payments.
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Sunday, March 13, 2011
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