Greenway Mortgage is happy to announce that our enhanced FHA Down Payment Assistance program is here and better than ever! We are on a mission once again to make the dream of homeownership possible. While many people manage to purchase a home by saving for a down payment over a period of years, increasing home prices and stagnant or low wages can make this quite difficult. The truth is, you don’t need a large down payment to qualify for homeownership. For those that qualify, Greenway’s FHA Down Payment Assistance (DPA) program allows renters to become homeowners without tapping into their savings account. This program provides the down payment to...READ MORE
Minutes released from the Fed's April meeting indicated officials were unconcerned about inflation, which they saw as transitory, but may want to discuss tapering bond purchases soon. Retail sales were unchanged in April as the boost from stimulus checks faded. An acceleration in sales is likely in the coming months with continuing economic improvements. Initial jobless claims unexpectedly fell to another post-pandemic low last week. The decline signals steady labor market improvement as business restrictions are lifted. Homebuilders remain...READ MORE
With so few houses for sale today, you may be wondering what you can do to beat out the competition? Being prepared when you’re ready to buy a home is very important. Here are some things to keep in mind: Meet with your Greenway Mortgage Loan Officer early. Getting an upfront loan approval will help you beat out the competition, negotiate with power and let you know how much you can afford. Know your must-haves and nice-to-haves. For instance: what home features are you looking for, what kind of neighborhood do you prefer and when do you plan to move? Stay organized during your home search by downloading our Home Comparison Chart . It will help...READ MORE
Consumer prices for April were up 4.2% over last year, the biggest jump since 2008. A large increase was expected because of last year's economic shutdown. Producer prices also rose in April, signs of a growing wave of inflationary pressure. Expectations of rising inflation could push mortgage rates higher. Jobless claims fell again, with applications last week coming in at 473,000, a new pandemic-era low. The labor market continues to improve as people return to work. Last week's purchase mortgage applications were up 13% from a year ago. Refinance apps were up 3% for the week but down...READ MORE
Private payrolls showed a big gain in April, led by hospitality and leisure jobs, according to the ADP report. However, the 742,000 new jobs still fell short of Wall Street's expected 800,000. Factory orders rebounded in March, and business spending on equipment was stronger than initially estimated, signaling continued economic growth. Jobless claims dropped to below 500k last week, another sign the labor market is reaching pre-pandemic levels. Businesses are now struggling to find enough workers. A federal judge has struck down the...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.