Jeanette Ford - Licensed Real Estate Agent - Referral

08/18/2024

Deadline EXTENDED to December 6, 2024

Free Money- Homeowners or Renters complete Anchor Application

08/03/2024

What You Should know…Before Buying a House

Do you know your Credit Score?

What is your Credit Score (also called FICO score - Fair Isaac Corporation). This 3 digit number represents the history on how you paid off debt, such as car loan, credit cards and other bills. This number is important because when you apply for a mortgage to purchase a home, lenders look at this number to determine your creditworthiness.

What is the range and what does it mean?

Range 300 - 850 (low to high)

Excellent 750 - 850
Good 700 - 749
Fair 650 - 699
Poor 300 - 649

Basically, with Excellent or Good Credit, a homebuyer will have little trouble obtaining a loan. Lenders are happy to approve buyers with good credit and also it is easier to negotiate a lower interest rate. (NOTE: You have the Power to negotiate the lowest rate.) Conversely, a buyer with a lower credit score, will likely endure more challenges securing a loan because the lender is more skeptical that buyer will default because the credit history is so shaky. Also, buyer with a lower credit score will pay a higher interest rate on a loan. So be clear, Bad Credit will have a negative impact on your pocket.

Where to check your Credit Score?
FREE Credit Score ===> www.CreditKarma.com

Where to check your Credit Report?
FREE Credit Report ===> www.AnnualCreditReport.com
Check your Credit report for any errors and signs of identity theft

A Good Credit Score is essential in securing a mortgage with a lower interest rate. You should research multiple lenders and compare to get the best rate. I recommend that your FICO score stay above 700 to get the best rate A score between 650 and 699 is more challenging to get a loan. It is imperative that you pay your bills on time because a 30 day delinquency payment can reduce your credit score significantly (by 90 to 110 points) which can jeopardize your chances in getting a loan. A Poor FICO below 650, you need to work on fixing your financial situation before trying to purchase a house.

Also, get your Free Credit Score and Credit Report so you can fully analyze your credit history and make sure it is error free. Remember, a good credit score gives you the power to negotiate the lowest rate. Do your research and stay empowered!

Thanks,
Jeanette

Please LIKE and/or positively COMMENT if this was helpful to you.

PS - If you have any real estate questions please contact me. Or if you know someone please forward my information to them.

Real Estate Referral Associates, Inc

Jeanette Ford
Real Estate Referral Agent

“The right connection is the key to life.”

Ph: 609.915.8991
[email protected]

ACR Home Page

08/01/2024

Interesting article about Assumable Mortgages. It’s a great idea for a Buyer, but for the Seller, I would proceed with caution. As a buyer, assuming a FHA or VA loan where the interest rate loan is much lower than the current interest rates would be a great maneuver to get an affordable monthly mortgage. On the other hand, I would WARN the Seller about the dangers of this tactic. The Seller retains Secondary Liability. If the mortgage is foreclosed and the court sale does not bring enough money to pay the debt in full, a deficiency judgment against both the assumer and the original borrower are responsible for the unpaid balance. Talk to your attorney, rather to be safe than sorry. Hope this helps someone!

An assumable mortgage can save homebuyers thousands of dollars. Here are the states that have the most assumable mortgages up for grabs.

01/30/2023

Please LIKE and SHARE if information is helpful 🙂

***** Attention Homeowners/Renters of New Jersey *****

NJ ANCHOR Program -
Property Tax Relief Program deadline February 28th, 2023

https://nj.gov/treasury/taxation/anchor/general-faq.shtml?utm_campaign=anchor&utm_content=m2&utm_medium=email&utm_source=govdelivery

State of New Jersey
Get Up to $1,500 Through the NJ ANCHOR Program

ANCHOR Program
You may be eligible to receive up to $1,500 in property tax relief. Read below to find out if you qualify and learn how to apply. The deadline to apply is February 28th, 2023.

Homeowners with income of $250,000 or less are eligible. To apply:

Apply online
Complete a paper application and mail it along with any necessary supporting documents
Apply over the phone by calling 1-877-658-2972
Homeowners need an ANCHOR ID and PIN to apply online or by phone. If you did not receive a mailer or email with an ID and PIN but filed a Homestead Benefit application last year, access the online ID and PIN inquiry system to retrieve your ID and PIN. Certain homeowners must file a paper application for reasons listed here.

Renters and tenants with income of $150,000 or less are eligible. To apply:

Apply online
Complete a paper application and mail it along with any necessary supporting documents
Renters and tenants do NOT need an ID and PIN to apply.
*Please note that there is no phone application option available for renters/tenants.

The Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program replaces the Homestead Benefit. ANCHOR Frequently Asked Questions (FAQs) for homeowners.

12/12/2022

Christmas gifts for homebuyers - 1) mortgage rates have dropped in the last 4-weeks and 2) home price growth slowed down for week ending December 3, Homebuyers do not miss out on this opportunity! Please contact me so I can refer you to an experienced Real Estate Agent.

We unwrap the latest real estate statistics, and what it means for homebuyers and sellers as we close out the year.

12/11/2022

Good article - if you are preparing to sell or buy your home, it is a good idea to get an experienced Real Estate Agent to assist you with this transaction. I can refer you to an experienced agent that can help you with this daunting process. Please message me if you need assistance. Hope you all have a Merry Christmas and a prosperous New Year!!!

If you’re getting ready to sell a house, you may want to make some repairs and upgrades to get the best offer. Here’s how to prepare a house for sale.

10/28/2022

Money News - Good to Know
Today is the last day to buy a risk-free 9.62% in I-Bonds - October 28. The rate will fall to 6.48% in November 2022. (Note if you buy after October 28 - the issue date will be moved to November 1.) However, I-Bonds are still beating - saving and CDs rates.

Go to TreasuryDirect.com.
Make your money work for you!

10/01/2022

Things to ponder…

These home maintenance myths will shock you when you find out you’ve been doing it wrong. Like how to test your smoke detector. HouseLogic has home facts.

08/08/2022

Do you know your credit score?

08/08/2022

Real Estate Referral Associates, Inc

Jeanette Ford
Real Estate Referral Agent
“The right connection is the key to life.”

Ph: 609.915.8991
[email protected]

What You Should know…Before Buying a House

What is your Credit Score?

What is your Credit Score (also called FICO score - Fair Isaac Corporation). This 3 digit number represents the history on how you paid off debt, such as car loan, credit cards and other bills. This number is important because when you apply for a mortgage to purchase a home, lenders look at this number to determine your creditworthiness.

What is the range and what does it mean?

Range 300 - 850 (low to high)
Excellent 750 - 850
Good 700 - 749
Fair 650 - 699
Poor 300 - 649

Basically, with Excellent or Good Credit, a homebuyer will have little trouble obtaining a loan. Lenders are happy to approve buyers with good credit and also it is easier to negotiate a lower interest rate. Conversely, a buyer with a lower credit score, will likely endure more challenges securing a loan because the lender is more skeptical that buyer will default because the credit history is so shaky. Also, buyer with a lower credit score will likely pay a higher interest rate on loan. Bad credit has a negative impact on your pocket.

Where to check your Credit Score?
FREE Credit Score ===> www.CreditKarma.com

Where to check your Credit Report?
FREE Credit Report ===> www.AnnualCreditReport.com
Check your Credit report for any errors and signs of identity theft

A Good Credit Score is essential in securing a mortgage with a lower rate. You should research multiple lenders and compare to get the best rate. I recommend that your FICO score stay above 700 to get the best rate. A Fair FICO score between 650 and 699 is more challenging to get a loan. It is imperative that you pay your bills on time because a 30 day delinquency payment can reduce your credit score significantly (by 90 to 110 points) which can jeopardize your chances in getting a loan. A Poor FICO below 650, you need to work on fixing your financial situation before trying to purchase a house.

Also, utilize your Free Credit Score and Credit Report so you can fully analyze your credit history and make sure it is error free. Remember, a good credit score gives you the power to negotiate the lowest rate. Do your research and stay empowered!

Thanks,
Jeanette

Please LIKE and/or comment if this was helpful to you.

PS - If you have any real estate needs please contact me.

ACR Home Page