Come join us in Pittsgrove, NJ – located in Salem County
FHA Financing
Open House 11-9-2024 Everyone welcome
Subscribe to continue reading
Subscribe to get access to the rest of this post and other subscriber-only content.
Mortgage Rates in New Jersey
Current rates in New Jersey are 4.081% for a 30-year fixed, 3.587% for a 15-year fixed, and 4.017% for a 5/1 adjustable-rate mortgage (ARM).
Mortgage Rates See Biggest One-Week Drop in a Decade. Mortgage rates fell more in the past week than they have in any one-week period in more than a decade. The average 30-year fixed loan has dropped 22 basis points to 4.06%, while 15-year fixed loans are down 14 basis points to 3.57%, according to Freddie Mac.Mar 28, 2019
Compare today’s average mortgage rates in the state of New Jersey. Bankrate aggregates mortgage rates from multiple sources to provide averages for New Jersey.
To Read more CLICK HERE
Move-in ready two story home
Featuring 4 bedrooma and 3 Baths. This 2 story home is situated on quiet lot on cul-de-sac street in Millville, New Jersey. Completely updated kitchen has wood countertops, new stainless steel appliances, backsplash, freshly painted cabinets, breakfast nook, pantry closet, ceiling fan and double sink with garbage disposal. Kitchen opens up to dining area with a floor to ceiling stone wood burning fireplace and ceiling fan. Separate laundry room and family room off kitchen. Spacious and remodeled foyer entry with exposed wood walls and new flooring. Large master bedroom has cathedral ceilings, ceiling fan and a walk-in closet. Master bath has a double vanity, stall shower, soaking tub and tile flooring. Other features include a partially finished basement, insulated windows, natural gas heat with humidifier, central air, concrete driveway, rear deck, city water and sewer and a large rear yard with two sheds. Solar panels are leased and offer a great savings on your electric bill. Rieck Avenue elementary school. Convenient access to Routes 49, 47 and 55. This listing is presented by The Scott Sheppard Team. Call today for a tour or more information and ask about property #90. Or for more information about homes for sale in Cumberland County.  Ask about our new $0 down FHA loans!          Stacy Schnell ~ Realtor Associate Cell: 856-364-0772
Move-in ready bungalow on quiet street
Listed for just $148,000. This bungalow features a completely upgraded kitchen, maple cabinets with soft-close drawers, granite countertops, tile backsplash, tile flooring and recessed lighting. Kitchen opens to dining room and living room with bamboo floors. Living room has a gas fireplace and ceiling fan. Full basement with bilco doors, walk up attic with attic fan. Roof 6 years old, replacement windows, security system, covered front porch, rear maintenance free deck, fenced yard, driveway parking with carport in rear of home, shed. Natural gas heat and hot water, central air condenser 1 year old, public water and sewer, Mt. Pleasant Elementary School. Easily accesible to Routes 49 and 55. This property is presented by The Scott Sheppard Team. Give us a call to schedule your private tour today! Ask about home # 89. Stacy Schnell ~ Realtor Associate Cell: 856-364-0772
Getting Pre Approved for a Mortgage
Though you may be willing to spend a certain amount, the real determination of how much house you can afford is driven by how much a lender calculates you can afford. So before you begin to search for the perfect house, it is very important to begin the homebuying process by getting preapproved. Getting preapproved for a home mortgage loan will provide you with a preliminary statement on the size of loan for which you can qualify. Knowing this, you can then focus your home search.
In general, lenders allow your total monthly housing costs to go as high as but not more than 30 percent of your gross monthly income. The second requirement is that not more than 36 percent of your gross monthly income can be tied up in the total monthly house payment and payments on long-term debt.
Visit my Website to read more and for adiitional information about obtaining a mortgage. Please feel free to give a call anytime for assistance with the home buying process!
Stacy Schnell – Realtor Associate – Cell: 856-364-0772
FHA Loan Guidelines for 2019
Qualifying for a Federal Housing Administration (FHA) loan can be much easier compared with a conventional one. Borrowers will need a valid Social Security number, and be a lawful resident of legal age to be able to sign an FHA loan. Qualifying for a loan requires a minimum credit score of 500 in addition to a FHA-approved property appraisal and a favorable debt-to-income ratio.
- What are the Major Requirements for an FHA Loan?
- Changes to FHA Guidelines for 2018
- Guidelines for FHA Streamline Refinance
This excerpt from Valuepenguin.com Click HERE to read more.
Visit my website stacyschnell.com for more helpful information on getting prepared to purchase a home or call me anytime, Id be happy to assist!
Stacy Schnell – Realtor Associate Cell: 856-364-0772
Home for Sale Cedarville, New Jersey
Charming & large two story home on quiet street. Home features 3 bedrooms and 2 baths. Kitchen has all new kitchen cabinets and stainless steel appliances. Large front porch, spacious family room and separate dining room. Rear sunroom, detached 2 car garage, walk up attic, full basement. Roof, vinyl siding and well are less than one year old. Home requires a new septic system, palns are already being drawn. Seller to provide approved septic plans at settlement. Sold in strictly “as-is” condition. Priced to sell!
This listing is located in Lawrence Township, NJ. It is presented by Stacy Schnell & The Scott Sheppard Team. For more information or to schedule a private tour please call Stacy @ 856-364-0772.
WHat do I need down to buy a home?
The down payment. Cue the dramatic, fear-filled suspense music. Yeah, it’s scary. Coming up with enough cash to put down when buying a house is the single biggest roadblock for most hopeful home buyers. But how much do you really need?
What is a down payment?
A down payment is the cash you pay upfront to get a home loan. It is deducted from the total amount of your mortgage and represents the beginning equity — your ownership stake — in a house and property.
This excerpt from Nerdwallet.com CLICK HERE to read more.
Below are a few of the questions clients often ask when making a purchase.
Question: What qualifies me to be a first time home buyer ?Â
A- If you’ve never owned a home, you are considered a first-time home buyer. But you are allowed to be a previous homeowner and still qualify as a first-time home buyer. According to the FHA, you can do so if you have not been an owner in a primary residence for at least three years leading up to your purchase.
Question: What are closing costs?
A: Closing costs are a fee charged for various items the lender charges. These fees are an additional cost that is added onto the amount of the loan. For example:  can include items such as loan processing fees, attorney’s fees, transfer taxes, title insurance costs, inspection fees, and more. You can ask for help with these fees in certain loan situations from the seller but still must supply your down payment for the loan.
Question: What is a seller concession?
A: When there is a seller concession in place, the seller will pay for part or all of the closing costs. Different loans offer different percentages that a seller can contribute.
Question: How much money will I need down?Â
A: This depends on what type of financing that you qualify for with your mortgage company. Each depending on credit score and down payment.
FHA loan requires 3.5% down and you will need to get private mortgage insurance.FHA does allow closing costs to be paid by the seller. A friend or relative can also gift the closing cost amount to the borrower.
Conventional Loan can be as high as 20% but are now lending with 5% and even 3%. Conventional loan borrowers making a down payment of less than 20 percent will need to get private mortgage insurance (PMI). The good news is that once you reach a loan-to-value ratio of at least 78 percent, you can cancel the insurance. The only way to not pay your closing costs out of pocket would be to include a seller credit as a contingency of your offer.
USDA Rural Development or USDA loans come with 100% financing. This means that no money down is required and closing costs can be either paid by the seller or financed into the loan. In short, no-money-down means the home buyer is typically not required to pay any out-of-pocket expense when the house closes. … No Closing Costs.
Welcome to my Real Estate Blog 