The thought of buying a home on your own as a single home buyer can be intimidating. If you’re making this leap, it’s going to take careful planning and the right team of experts. Research from Freddie Mac shows 28% of all households (36.1 million) are sole-person, and that number is growing. Over the past 40 years, the number of sole-person households has nearly doubled, and that’s a trend that’s expected to continue as more and more Americans choose to live alone. “ Our calculation suggests that there will be an additional 5 million sole-person households in the United States by the next decade. This means 42% of the household growth will...READ MORE
Surging food, energy, and shelter costs pushed consumer prices up 8.5% in March, slightly hotter than expected and the highest since 1981. The prices that goods and services producers pay also rose. Wholesale inflation hit 11.2% in March, the biggest gain on record. New unemployment applications remained near historically low levels, as employers held onto workers in a tight labor market. Large investors have increased cash flow to devote to housing, having accumulated $89 billion for building or buying rental homes....READ MORE
Are you a first-time home buyer or thinking about buying a home soon? Greenway Mortgage wants you to feel ready and prepared for the biggest, most exciting purchase of your life. We put together some questions for you to answer so that you can see where you stand currently. Go through and answer each and at the end, if you feel confident and ready, reach out to the team at Greenway Mortgage. Alright, here we go! #1 Do you have established credit? Look below to see where your credit score falls. If you answered yes , keep making your payments on time. Do not apply for any more credit as it will lower your credit score. Every point counts. Excellent...READ MORE
Minutes from last month's Fed meeting show a consensus to start reducing balance sheet holdings by $95 billion a month, to be announced in May. Fed members also support multiple half point policy rate hikes this year. Along with balance sheet runoff, this supports higher mortgage rates. Economic signals such as an inverted yield curve for long- and short-term Treasuries point to a possible recession to come in 2023. Higher mortgage rates have pushed refinance applications down 41% from a year ago, but purchase apps were...READ MORE
Introducing the Doctor Loan One benefit of becoming a doctor is being able to take advantage of unique home financing opportunities. Greenway Mortgage's Doctor Loan is a great tool to help medical professionals who are looking to achieve the dream of homeownership. What is the Doctor Loan? Becoming a caregiver is not only commendable but it’s often coupled with a significant student loan burden. If you’re a resident, a recent medical school graduate, or at any stage of your career, looking to lose the lease and become a homeowner, the Doctor Loan was specially designed for professionals like you. The Doctor Loan helps those...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.