GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
experienced before. Where experience, efficiency & integrity meet.

Pre-Qualification vs Pre-Approval: What’s the Difference?

Pre-Qualification vs Pre-Approval: What’s the Difference?

  In the exciting journey of homeownership, understanding the distinctions between pre-qualification and pre-approval is crucial. While the terms may sound similar, their implications vary significantly, especially for eager homebuyers. In this blog, we'll examine the key differences and help you decide whether to start with a pre-qualification or jump straight into the pre-approval process. Mortgage Pre-Qualification: Testing the Waters What is Mortgage Pre-Qualification? Before fully committing to the homebuying process, getting pre-qualified acts as a preliminary step. During this phase, you provide an overview of your financial situation,...

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MarketMinute | What's Gen Z's top platform for homebuying education?

MarketMinute | What's Gen Z's top platform for homebuying education?

Shelter prices contributed to higher-than-expected inflation for January, lowering the odds that the Fed will cut rates soon.  Fed members continued spreading the message that they are hesitant to start cutting rates yet and want to see more data first. Consumer spending fell more than expected in January, after making gains in December. Retail sales dropped 0.8%, more than the expected 0.3%. As mortgage rates rose last week, total applications fell 2.3%. Purchase apps dropped 3% for the week and...

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Monmouth County, NJ’s First-Time Homebuyers Assistance Program

Monmouth County, NJ’s First-Time Homebuyers Assistance Program

  Are you dreaming of owning your first home but struggling to navigate the complex world of down payments and closing costs? Look no further! The Monmouth County, NJ First-Time Homebuyers Assistance Program is here to turn your homeownership aspirations into reality. In this blog, we'll explore the ins and outs of this program, including eligibility criteria, program details, and the participating municipalities that could become your new home. Understanding the Program The Monmouth County, NJ First-Time Homebuyers Assistance Program is tailored to provide financial support to low-income families aiming to purchase an affordable home. The program offers a...

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4 Things To Love About the Housing Market

4 Things To Love About the Housing Market

  As we find ourselves in the heart of February 2024, the housing market presents a landscape filled with promising developments. Here are four compelling reasons to feel optimistic about the current state of affairs: #1 Favorable Mortgage Rates The trajectory of mortgage rates has taken a promising turn since last fall. After hitting highs, rates have descended, making homeownership more accessible for many. The Federal Reserve Board's projection of potential rate cuts further underscores this positive trend, provided inflationary risks remain manageable. Lower rates not only translate to reduced monthly payments but also signify improved affordability,...

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MarketMinute | What group is exiting the housing market?

MarketMinute | What group is exiting the housing market?

Job growth posted a surprisingly strong increase in January, showing the labor market is solid and poised to support broader economic growth.  Fed officials continue to state that policymakers have time to be patient about the timing of Fed policy rate cuts, pressuring mortgage rates. Jobless claims dropped for the 1st time in 3 weeks, suggesting employers are still largely holding onto workers. REALTOR® (NAR) membership fell in January for the 3rd consecutive month, though there are still over...

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