Robert's Blog

USDA announced it is reviewing the Rural Areas, It appears that in NJ we may lose a few eligible areas.Every 5 years USDA does a review and adjusts the designated areas of eligibility. Why is this important? USDA is one of the BEST ways to purchase a home with no down payment.  There are geograph...

 FHA Loans Just got MUCH more affordable After years of being one of the more expensive options for mortgage insurance this is welcome news.  In many cases FHA will now be the less expensive option for mortgage insurance for low down payment borrowers vs conventional mortgages.The typical 3.5% do...

So here is the Scenario:You apply for a mortgage, and the following day your phone begins ringing off the hook, everyone trying to sell you a mortgage or even a house.What you are experiencing is what is called "Trigger Leads". When your credit is run for a mortgage we get a tri-merged credit rep...

TikTok anyone?Well, I finally did it, dove in to the Video World. As a borderline Boomer Gen-Xer I was resistant to making the leap since my preference is to read rather than watch to learn. (I can read  faster than listening to most talking heads, and can multitask reading easier than watching v...

LLPAs/Add-ons Significant increases!For Conventional Mortgages there have been Loan Level Price adjustments since 2008. Simply put- not everyone gets the same rate with these adjustors adding price for risk.While there has always been some minor adjustments to the LLPAs each year this is the bigg...

Down payment assistance, for everyone?? Well, maybe not for everyone but darn close.At Homebridge we have a new program that can help buyers that are tight on cash and provide them either 3.5% or 5% down payment assistance. There is the possibility the DPA can be forgiven after 5 years of on time...

 Now & LaterI’m sure you’ve heard variations on the theme: Marry the house, date the mortgage…. Well, we have a Program for that - Our Now & Later program (not the candy!!). When your clients buy and finance a home with me and close by April 1, 2023 we will give them a $1,500 coupon towards their...

 Buydowns: Don’t get caught up in the Hype. Buydowns are NOT the greatest thing since sliced bread. They aren’t new, in fact they are an ancient tool we put at the bottom of the toolbox 30yrs ago because it doesn’t work as well as others at our disposal.   Here’s why: In today’s world a seller MU...

The Sky is NOT falling, and the bubble is not going to pop.I have seen so much doom and gloom in the Real Estate world, and a lot of it is in the Mainstream Media.. Nothing sells better than a negative headline, and unfortunately news is a business that sells advertising.So, are housing prices fa...

 I hate to be the bearer of bad news, but better to be informed.  In the past month we have seen one of the fastest moves up in mortgage rates I can remember.  This upward trend reignited in early August and built steam from there.The past two weeks in the credit markets have been, for lack of a ...