North Jersey Real Estate
KELLER WILLIAMS SUBURBAN REALTY - Edward J McCouch
 
Why You Need a Real Estate Professional

The integration of real estate into the internet has revolutionized the way in which home buyers think. It has become easier for buyers to find a home on the internet in the past few years. Today, buyers often ask the question, "Why do I need an agent?"...MORE

Setting the Price

When pricing your home, you may consider the price you originally paid, add a substantial markup and presume you're done. This would be a grave mistake; one that could wind up costing you thousands or end in no sale at all. In order to price your home to sell there are many things that should be considered...MORE
 
 



Edward J. McCouch
KELLER WILLIAMS
SUBURBAN REALTY
250 S Livingston Ave
Livingston, NJ  07039

Office:

(973) 251-0100
Cell:

(973) 670 2005
Fax:

(973) 251-0300
Email:

ejmccouch@earthlink.net


 
 

 

The Sussex County New Jersey Real Estate Market Will Recover!!

The Credit Crisis Will Not Last Forever

Interest Rates Will Rise and YOU Will Have Lost The Opportunity of Your Lifetime!!

Call Ed Today 973-670-2005

January 20, 2010

This morning changes to FHA loans were announced that will make it harder for borrowers to be approved. As more details come in, I’ll pass them along. Here’s what is known so far. First, down payment requirements will be going up for loans with a middle score under 580. This really does not affect too many people. Most banks will not approve loans with scores under 620. Next, the upfront mortgage insurance premium will be going up to 2.25% vs the current 1.75%. However, FHA is still allowing this fee to be financed. FHA is also pushing for the monthly premium to increase as well. Currently, the monthly premium is between .5 and .55 percent. Last, seller concessions will be reduced. Currently, 6% is allowed, but it will be reduced to 3%. Obviously, it will make it harder for borrowers to be approved.

 There are reasons for these changes. Popularity of FHA loans has dramatically increased over the past few years. Unfortunately, so are the default rates. Because of these losses, the agencies reserve funds is well below the ratios set by Congress.

Serving the following communities in the Real Estate market with New Construction, Townhouses, Residential, Lake Front Properties, Adult Communities, and Condominiums.”

Sussex County, towns of Franklin, Hamburg, Hardyston Township, Ogdensburg, Stockton, Sparta, Sparta Township, Newton, Fredon, Green Township, Andover, Lake Mohawk, Branchville, Lafayette.”

Passaic County, towns of Bloomindale, Pompton Lakes, Ringwood, Wanaque, West Milford, Wayne Township.”

Bergen County, Elmwood Park, Franklin Lakes, Oakland, Ridgewood, Glenwood

Purchasing Real Estate is one of the biggest investments most people make in their lifetime. Whether you are looking to purchase a home for the first time, sell your current home or  invest in property, it always helps to have a knowledgeable and experienced agent to aide you in accomplishing your goal.

This complete online kit offers extensive information, tools, and expert advice to help you make knowledgeable decisions in the Northern New Jersey Real Estate market. Learn about first time home buying, investment properties, how to make an offer, types of loans, mortgage rates, relocation assistance, preparing your home for sale, pricing your home properly, area schools, and additional buyer/seller tips. Previewing homes for buyers is also offered.

 



How Can I Help You?
Needs:
Name:
Phone:  -  -
Email:


 

Today's Mortgage Rates   Real Estate News