At Greenway Mortgage, we want you to feel comfortable making the decisions that get you into the home of your dreams. A big part of that is speaking the language. We've created The Ultimate Mortgage Glossary just for you which includes major loan types and other terms you will run into during the mortgage process. A basic understanding of these terms will make you feel right at home working with a Greenway Mortgage loan officer. Take me to the Mortgage Glossary >>READ MORE
For the Week Ending September 13, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. Consumer borrowing was up $23.3 billion in July, the biggest monthly gain since Nov. 2017. The increase pushed total consumer credit to a record $4.1 trillion. Despite forecasts of a looming recession for 2020, economic data and the labor market continue to show strength. The Fed will meet next week. Last month's...READ MORE
There are a number of loan programs available that are suitable for first time home buyers. At Greenway Mortgage, we are proud to offer many conventional home loans that are tailored to you based on your current finances. We also offer special government loan program options to help you get into your new home. FEDERAL HOUSING ADMINISTRATION (FHA) LOANS These are government-insured loans from the US Department of Housing and Urban Development (HUD) that offer low down payments, making them especially attractive to first time home buyers who are looking to save where they can. The rates on these loans are often lower than conventional products and have less stringent...READ MORE
For the Week Ending September 6, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. The August ISM manufacturing index fell to 49.1%, the lowest reading in 3+ years. A reading below 50% indicates contraction in manufacturing activity. Private payrolls rose more than anticipated, according to ADP. The private sector added 195,000 jobs in August, better than the expected 149,000 increase. The economy grew at a modest pace...READ MORE
Did you know that a good credit score can save you hundreds of dollars a month on mortgage payments – and possibly tens of thousands over the course of your loan? When a borrower has a high credit score, this gives lenders confidence in their ability to repay the loan. In turn, the higher it is, the lower the interest rate they’ll be willing to give you. What is a Credit Score? A credit score is a 3-digit number generated by a mathematical algorithm using information in your credit report and is designed to predict risk. A consumer has 3 FICO scores, one for each credit report: Equifax, Experian and TransUnion. FICO scores range from 300 to 850, where a...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.