GREENWAY BLOG

22 November 2022

NJ Conventional Down Payment Assistance Program Increases To $15,000

  Now home buyers can dream even bigger! The New Jersey Conventional Down Payment Assistance (DPA) Program has increased to $15,000 for properties in certain New Jersey counties*. This program was created to provide first-time home buyers a flexible and affordable option for purchasing a home. What Does This Change Mean for Home Buyers? Now, qualified clients can receive $15,000 to be used towards the down payment and closing with affordable mortgage insurance premiums that follows conventional mortgage guidelines.  About The NJ Conventional DPA Program: 30-year, Fixed-Rate Conventional Loan  Affordable Mortgage Insurance...

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18 November 2022

MarketMinute | Rates Are Down and Apps Are Up

On the heels of last week's better than expected consumer inflation report, new wholesale inflation data also came in better than expected. Retail sales surged by 1.3% in October as consumers continued spending despite inflation, showing the economy is not yet slowing. Jobless claims dropped by 4K last week despite expectations for an increase, demonstrating continued labor market strength. Housing starts were down 4.2% in October, with single-family projects dropping to the lowest level in nearly...

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17 November 2022

Halfway Home Animal Rescue Team's A Night Of Compassion Event

𝐀 𝐍𝐢𝐠𝐡𝐭 𝐨𝐟 𝐂𝐨𝐦𝐩𝐚𝐬𝐬𝐢𝐨𝐧 𝐄𝐯𝐞𝐧𝐭 Over 270 people attended Halfway Home Animal Rescue Team's 𝐀 𝐍𝐢𝐠𝐡𝐭 𝐨𝐟 𝐂𝐨𝐦𝐩𝐚𝐬𝐬𝐢𝐨𝐧 𝐄𝐯𝐞𝐧𝐭 this year, with over 150 amazing prizes donated! Greenway's President attented the even in Patterson, New Jersey on Thursday, November 10th.  Greenway Mortgage was recognized for their generous contributions made in 2021 as we raised over $30k in just three short days to help animals in need. 𝐀 𝐦𝐞𝐬𝐬𝐚𝐠𝐞 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐇𝐚𝐥𝐟𝐰𝐚𝐲 𝐇𝐨𝐦𝐞 𝐑𝐞𝐬𝐜𝐮𝐞 𝐓𝐞𝐚𝐦: “We are proud to say that all the delicious five-course dinner, even down to the butter and creamer on the tables was 100% vegan and cruelty-free, as was every single prize. We are...

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15 November 2022

Why Reverse Mortgages?

  Reverse mortgages, available to qualifying homeowners ages 62+, generally come with no limits on the use of the funds. Reverse mortgage funds are first used to pay any liens on the home, including a regular mortgage or home equity loan. In some cases, a portion of proceeds is withheld or set aside to pay taxes and insurance. Remaining funds often: Offset day-to-day living expenses. Cover emergency expenditures, such as car or home repairs. Pay for medical costs. Provide for in-home care, allowing the owner to remain in their own home longer. Sometimes, homeowners use a reverse mortgage just to pay off their existing loan. They do...

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11 November 2022

Fed Increases Rates This November

  Let's look beyond the Fed rate increase. As expected, the Fed raised policy rates by 0.75% at their November meeting.  That's not the most interesting thing. Investors were hoping the Fed would signal it's ready to ease off the current pace of rate hikes. And that's what happened. The Fed's statement hinted the Committee may pull back to allow time for the economy to feel the impacts of changes, though it's still committed to using rate increases to tame inflation. As usual, there's no need to assume mortgage rates will rise the same amount as the Fed's rate boost. Other market forces are also at play, and rates often...

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