Struggling to save up for a down payment on a new home? Saving up to buy a home can feel nearly impossible. But with a solid saving game plan, anyone can squirrel enough away for a down payment on the home of their dreams . There are many simple strategies you can use to make saving a breeze and we’ll cover those in a few. How Much Do You Need to Save For Your Down Payment? You’re probably familiar with the phrase: Save for a 20 percent down payment before you buy a home . Putting this much down shows that you have financial discipline and stability. Plus, it can help you get more favorable rates. While a 20 percent down payment was once a standard,...READ MORE
Consumer confidence fell to a 5-month low in February, with fewer consumers planning to spend on homes, automobiles, and vacations. Concerns over even greater inflation are mounting this week, as oil prices surged to more than $100 a barrel for the first time since 2014. The labor market continues to show strength. Last week's unemployment claims were lower than expected, and continuing claims hit a 52-year low. Homebuilder confidence fell for the 2nd straight month, as builders face delays for cabinets, garage doors and...READ MORE
Your dream home starts here with Greenway’s USDA One Time Close Construction Loan. With 100% financing and a low minimum credit score, this program is designed to provide you flexibility and affordability, so you can build your perfect home – all with just one application and one closing. USDA Construction Loans are rare, so if you’ve been struggling to find a lender offering one, you’ve come to the right place. Greenway Mortgage has an entire suite of Construction Loans available. The Lowdown on the USDA One-Time Close Construction Loan… To increase economic development in rural areas, the Federal...READ MORE
Minutes from last month's Fed meeting show the Fed is ready to raise policy rates as soon as March to help curb soaring inflation. Retail sales rose 3.8% in January, the most since March, beginning the year strong despite inflation and Omicron. Similar to consumer inflation, which hit its highest level since 1982, January wholesale prices were up a near-record 9.7% year over year. Soaring lumber prices add nearly $19K to the cost of a new home. Though 22% below peak, prices are still about 3 times higher than pre-pandemic...READ MORE
Have you ever played Chess, the game of life, before? Chess requires you to plan and think about strategy, it’s a game about making strong moves and sticking by them. Every decision made has an impact on the rest of your game. Well, the same can be said about buying a home; planning and thinking about strategy ahead of time is extremely important from the very beginning stages. Economists expect the 2022 housing market to be a tad gentler to home buyers. However, the homeownership dream will still require strategy and stamina. Have no fear! We’ve got a few good tips to ensure your home buying plan is as strong as possible when you begin your home search. #1:...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.