U.S. Cities  

Go Back   City-Data Forum > U.S. Forums > New Jersey
Register Blogs Search Today's Posts Mark Forums Read

Welcome to City-Data.com forum! Make sure to register - it's free and very quick! You have to register before you can post and participate in our discussions with 600,000 other registered members. User profiles and some forums can only be seen by registered members. After you create your free account you will be able to customize many options, you will have the full access to over 15,000 posts/day about local topics and you will see fewer ads. Within the last few months our forum was cited in an article in 15 newspapers.

Get a detailed profile of any city, county, or zip code:
      Search our forums (advanced):

Reply


 
Old 12-28-2007, 11:02 AM
Senior Member
 
Join Date: Oct 2007
102 posts, read 92,359 times
Reputation: 23
NJStealth is on a distinguished road
Smile First time home buyers

I am in the process of buying a home and I am a first time home buyer... Are there any programs I should be aware of that I can get any discounts...
Reply With Quote Quick reply to this message

 
Old 12-28-2007, 11:17 AM
Real Estate Agent
 
Join Date: Nov 2007
Location: Martinsville, NJ
1,959 posts, read 846,526 times
Reputation: 944
Bill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to beholdBill Keegan is a splendid one to behold
Quote:
Originally Posted by NJStealth View Post
I am in the process of buying a home and I am a first time home buyer... Are there any programs I should be aware of that I can get any discounts...
There are first time home buyer programs out there that can save you money & help you buy the house you want. They've gotten a bit tighter on the requirements, and will want a decent credit score & such. It's all very dependant on your own personal situation, including such details as money available as dwon payment, credit history, etc. Best thing to do is sit down & have an honest & in depth discussion with a professional. You might even want to check out the Mortgage forum here at CD. Talk to a few, to find one you feel really comfortable with. I like mortgage BROKERS, as they will offer options from more than just one lender. Ask for recomendations from your Realtor, friends who have recently purchased, even your own bank. Then sit down & get very honest with the person you choose. That's, in my opinion, the best way to get the real info that's best for your situation.

Last edited by Bill Keegan; 12-28-2007 at 11:18 AM.. Reason: Forgot something
Reply With Quote Quick reply to this message
 
Old 12-28-2007, 11:54 AM
Real Estate Agent
 
Join Date: Jul 2007
Location: Central New Jersey
989 posts, read 783,201 times
Reputation: 103
DodgeViper01 will become famous soon enoughDodgeViper01 will become famous soon enoughDodgeViper01 will become famous soon enough
I would suggest calling around a few lenders and finding out the programs that they offer. There are many banks that offer a lower interest rate for first time home buyers (Chase, Wells Fargo, etc.) but they have strict requirements. Perfect credit is a must!!
Reply With Quote Quick reply to this message
 
Old 12-28-2007, 05:54 PM
Not a member
 
Join Date: Dec 2007
64 posts
Reputation: 12
buywarren is on a distinguished road
check your bank first, like bank of america give no app fee program to their customer... some even got 1/4 or 1/2 % lower rate if you are their customer...
Reply With Quote Quick reply to this message
 
Old 12-28-2007, 07:33 PM
Senior Member
 
Join Date: Oct 2007
102 posts, read 92,359 times
Reputation: 23
NJStealth is on a distinguished road
I am buying a house through Ryan Homes and if I dont finance through NVR then I lose the discounts they are giving me. This kind of sucks if I can get a great deal through another mortgage broker... Do you know any specific programs where I can save on closing costs or get lower interest rates? My credit score is 725. Is that good enough?
Reply With Quote Quick reply to this message
 
Old 12-28-2007, 09:01 PM
"Ad astra per aspera"
Status: "I know what you did last Summer!!" (set 12 days ago)
 
Join Date: Aug 2007
Location: West Cardassia, NC
1,908 posts, read 931,175 times
Reputation: 630
TheEmissary is a name known to allTheEmissary is a name known to allTheEmissary is a name known to allTheEmissary is a name known to allTheEmissary is a name known to allTheEmissary is a name known to allTheEmissary is a name known to allTheEmissary is a name known to allTheEmissary is a name known to allTheEmissary is a name known to allTheEmissary is a name known to allTheEmissary is a name known to all
Quote:
Originally Posted by NJStealth View Post
I am buying a house through Ryan Homes and if I dont finance through NVR then I lose the discounts they are giving me. This kind of sucks if I can get a great deal through another mortgage broker... Do you know any specific programs where I can save on closing costs or get lower interest rates? My credit score is 725. Is that good enough?
Several people on the NC forum were complaining about Ryan and the NVR. Are you getting an "adjustable rate mortgage" through them - Be very careful! Do the math calculations - you might be better off without their options discount and getting the cheapest fixed rate mortgage that you can. Check out the NC forum for Ryan homes!
Reply With Quote Quick reply to this message
 
Old 12-28-2007, 09:07 PM
Member
 
Join Date: Oct 2007
40 posts, read 34,322 times
Reputation: 13
anthonym267 is on a distinguished road
I dont see how any young couple can afford a house in NJ.
theyre just way too expensive. You cant get into a decent neighborhood for under 300k.
Reply With Quote Quick reply to this message
 
Old 12-29-2007, 09:50 AM
Not a member
 
Join Date: Dec 2007
64 posts
Reputation: 12
buywarren is on a distinguished road
I just search craigslist and saw many property sold in nice town for under $300k as you can see ... http://cnj.craigslist.org/search/rfs...&maxAsk=300000

One tip mentioned is to buy a 2br/3br ranch in nice town to start up, after all, young couple may not need huge house till many years later. Then, with nice size property, the ranch can be easily raised to 4/5br 2/3hba 2ga house later at affordable cost since there will be no extra "land cost".

I myself started with a 1br 1ba condo in late 80's when real estate was at the peak, later I bought a bigger home and rent out the condo, the rent happened to be able to cover my one year ARM started with 3.875%, then I strive to pay down mortgage every month as I was afraid of mortgage rate may go up, but, after all these years, mortgage seemed to be capped somewhere.

Now, I am going to do the same thing with low mortgage rate to start on the $1.789m house and may be rent out my house, using the rent to cover the mortgage. When US Dollar depreciated, so would be my mortgage as said I copied from one craislist ads
http://www.youtube.com/watch?v=4n3g5...eature=related
Reply With Quote Quick reply to this message
 
Old 12-29-2007, 09:53 AM
Junior Member
 
Join Date: Dec 2007
2 posts, read 2,832 times
Reputation: 12
Caranewyork is on a distinguished road
An acorn loan from Chase Bank is a good source. If you do not qualify an advisor can put you a course to get qualification in 6 mo to a year.
Reply With Quote Quick reply to this message
 
Old 12-29-2007, 04:03 PM
Senior Member
 
Join Date: Sep 2006
Location: Northern NJ
1,337 posts, read 852,141 times
Reputation: 156
joe moving has a spectacular aura aboutjoe moving has a spectacular aura aboutjoe moving has a spectacular aura aboutjoe moving has a spectacular aura about
There is the NJ first time homebuyers. It was 5.85%, but now it is 6.125%... I think maybe you can beat 6.125% at a regular bank.

http://www.state.nj.us/dca/hmfa/cons...firsttime.html
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.



Reply


Quick Reply
Message:

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Similar Threads

Forum Jump

Go Back   City-Data Forum > U.S. Forums > New Jersey

All times are GMT -6. The time now is 06:16 AM.

Copyright © 2005-2009, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 - Top