It's always been a good idea, but lately, it's become even more important to get pre-approved before you start your home search. Why should I be pre-approved for a mortgage loan? In recent years, mortgage guidelines have been tightened. Documentation requirements have been expanded and followed more closely. A pre-approval gets you through the process and uncovers potential pitfalls long before you become obligated by a contract to purchase. What advantages will I have once pre-approved? You'll be certain about the price range that's best for you. You'll know how much cash you'll need to close, and you'll know your maximum...READ MORE
It’s no secret over the past couple years the housing marketing has been red hot. With the Fed constantly raising rates, may prospective homebuyers worry whether their window to purchase a home has sailed. “Is it still a good time to buy a house?” The team at Greenway Mortgage says, “Yes!” Of course, the right time to buy is when you’re ready. But, for many home buyers, interest rates are a top concern. What many don’t realize is that interest rates are always in flux and there’s no real way to predict their path. Trying to catch the perfect rate shouldn’t deter you if you find the perfect house. Marry The House....READ MORE
The service industry picked up in August for the 2nd straight month, reinforcing the view that the economy is not yet in a recession. Last week’s jobless claims hit a 3-month low, underscoring the robustness of the labor market despite the Fed’s rate increases. Comments from multiple Fed officials showed they remain optimistic about the economy while still committed to battling inflation. With rates reaching highs last seen in June, purchase mortgage apps were down slightly for the week and 23% lower than a year...READ MORE
Working with a local mortgage lender in a hot housing market is key. If you’ve ever mentioned the phrase “mortgage company” many people initially think of big national companies. But working with a local lender like Greenway Mortgage can come with several advantages over those bigger companies. We’re here with you every step of the way. That means we can offer you better rates, personalized service, and advice whenever you need it. And most importantly, we’re here to help you make a smart home purchase that works for you. Let’s take a deeper look at the 5 reasons to work with a mortgage lender. Reason #1: We offer Competitive...READ MORE
Consumer confidence rebounded more than expected in August after 3 straight monthly declines, a positive sign for consumer spending. Last week’s jobless claims fell to their lowest level since June, signaling labor market resilience amid a slowing economy. Fed comments from Jackson Hole last week have led markets to expect a larger policy rate hike in September. Purchase mortgage applications dropped 2% for the week and were 23% lower year over year. Refi apps also fell....READ MORE
In 2017 and 2018, Greenway Mortgage was awarded Best Mortgage Company in Monmouth County, NJ by the Asbury Park Press' Reader's Choice Awards.