GREENWAY BLOG

2 December 2024

We’ve Been Voted One of the Best Mortgage Lenders in Monmouth County, New Jersey

  We’re Honored to be Recognized in the 2024 Asbury Park Press Community’s Choice Awards! We are incredibly excited to share some fantastic news — we’ve been named one of the best mortgage lenders in Monmouth County in the 2024 Asbury Park Press Community’s Choice Awards ! We are proud to have ranked in the top 3, and we couldn’t be more grateful to our community for this recognition. This achievement is not just about our services—it’s a testament to the unwavering support of the wonderful people we have the privilege to serve, work with, and partner with every day. Whether you’re purchasing your first home,...

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27 November 2024

Freddie Mac & Fannie Mae Simplify Appraisal Waivers for 2025

  Exciting changes are on the horizon for homebuyers! Starting in early 2025, Freddie Mac and Fannie Mae are making updates that could simplify the homebuying process for your clients. These changes aim to make purchasing a home faster, less expensive, and more accessible—especially for first-time buyers. Here’s a closer look at what this change means and how it could benefit homebuyers: What Is an Appraisal Waiver? An appraisal waiver allows buyers to skip the traditional in-person home appraisal during the mortgage approval process. Instead, automated tools determine the home’s value based on recent sales and other market data....

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26 November 2024

Industry Update | FHFA Announces Conforming Loan Limit Values for 2025

  On November 26, 2024, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming  loan limits  for mortgages acquired by Fannie Mae and Freddie Mac in 2025. The maximum loan limit for one-unit properties will be $ 806,500 , an increase of $39,950 (or 5.2 percent) from 2024. Release . National Baseline The decision was based on the recovery of housing prices under the Housing and Economic Recovery Act of 2008 (HERA). They require that the baseline conforming loan limit be adjusted each year for Fannie Mae and Freddie Mac to reflect the change in the average U.S. home price.   FHFA third quarter...

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22 November 2024

MarketMinute | Existing home sales moved up!

Weekly jobless claims for last week hit a 7-month low, suggesting job growth rebounded in November after slowing last month. Prices have risen somewhat faster than expected in the past few months, raising questions about whether the Fed can achieve its 2% inflation goal. Stronger than expected economic and labor market data and increasing inflation concerns could reduce expected future Fed policy rate cuts. Homebuilder sentiment rose to a 7-month high in November as expectations for sales in the next 6...

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18 November 2024

Condo Buyer’s Guide: What you need to know when buying a condo

  Thinking about purchasing a condo? For city dwellers, singles, couples, and anyone looking for a low-maintenance lifestyle, condos offer a unique homeownership experience. They’re often more affordable than detached homes, making them appealing for first-time buyers or those who want to downsize. What is a Condo, Exactly? A condo lets you own your individual unit while sharing ownership of common spaces with other residents. Your monthly “condo fee” helps cover maintenance and repairs in these areas, providing a convenient lifestyle with fewer home maintenance demands. Condo options range from high-rise apartments to townhouse-style setups,...

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