Divorce and Your Home

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Can I keep my house – what are my options? During the time of separation or divorce, there are many questions you might be asking with regard to your current home and credit. Let’s explore some of the more common ones. If I am the one to receive the home in the settlement, can I afford to maintain my home and mortgage? The answer to this question will take some thought and planning....

CRA 3% Down Payment – No PMI Financing

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No PMI with 3% down… Yes, it’s true! For many New Jersey First-Time Home Buyers, homeownership just became a bit easier – and more affordable – thanks to a special 3% down payment, No PMI home loan offered by American United Mortgage Corporation. As part of their commitment to community reinvestment (CRA), American United is offering this loan to qualified buyers that purchase a home located...

5 Common Home Buying Mistakes

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  Buying your first home can and should be an enjoyable life experience. One filled with pride and excitement as you set out to claim interest in a piece of American real estate to call your own.        Unfortunately the home buying experience for many consumers is the exact opposite, resulting in added stress, unanticipated expenses, and in some cases a failed home...

4 Tips to Conquer Buying and Selling a Home at the Same Time

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One of the biggest challenges of moving is figuring out how to buy and sell a home at the same time. The problem arises when you already own a home, but want to buy a new home to move into. You can’t ever be sure of the exact date when your existing home will sell, and you don’t know when you’ll be able to find and move into your new home. Unless you’re a cash buyer, dealing with the mortgage...

Howdy, Neighbor! 3 Steps To Choosing The Best Neighborhood

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Now that you have the power of a Full Loan Approval in hand, the next step is to choose the best neighborhood to set down roots. For this step, your Realtor® can be a valued resource. When you use American United’s Find a Realtor® tool, you can select a Realtor® who is an expert in the neighborhood you choose. Here are some tips for finding and choosing the best neighborhood. Make a “Wish...

Why Full Loan Review Is Important When Purchasing A Home

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As a first time home buyer in New Jersey, obtaining mortgage approval should be the first step in your search. Prequalified or pre approval may lead you to believe you are on the road to the home of your dreams, however, these terms are misleading. Having pre approval or pre qualification does not guarantee final loan approval will be granted by the lender.  Thankfully, American United...
Building Your Home Buying Team: 6 Steps To Success

Building Your Home Buying Team: 6 Steps To Success

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Completing a successful home purchase takes a series of steps that includes the gathering of “people resources.” You can’t do it alone. Others will automatically need to become involved in your home buying, so it makes sense to take a proactive approach since it’s best to start this process before you start looking at homes.  This will ensure that you have what you need from the top people in...
4 Proven Ways To Boost Your Credit And Buy A Home

4 Proven Ways To Boost Your Credit And Buy A Home

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Whether you’re seeking a mortgage for a new home purchase or looking to get a construction loan, your credit score plays a large part in your plans. The higher your credit score, the better off you’ll be; a high credit score can get you better financing terms and lower interest rates. Even if you currently have good credit, moving your credit score up even a few points can make a dramatic...

Looking for a Better Mortgage Rate? Improve your Score

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Your credit report and credit scores are a major part of your mortgage application.  In fact, they help determine the rate of interest you pay on your loan.  And since the rate of interest drives your monthly payment, managing your credit report so it produces a high score is important to obtaining an affordable mortgage. A good lending partner will ask to review your credit report 2-3 months...

Planning to Get Married in New Jersey? Say “I DO” to Homeownership

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Wedding planners will tell you, to have a successful wedding it’s important to begin the planning process months in advance of your special day. Preparing for the next phase of your life together – Homeownership – is not much different. In fact, home buying experts suggest that in order to have a successful home purchase would-be homebuyers should begin the home qualifying process at least...

Five Steps to a Successful FHA 203(k) Rehab loan

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You just located a home in a great neighborhood but it’s in desperate need of renovation and modernization.  Your contractor estimates about $100,000 in upgrades in order to make this the ideal home for you.  But since you have barely enough funds to cover the down payment, how could you possibly come up with an extra $100,000 after closing??  The answer you are looking for just might be the...
Harp

Home Affordable Refinance Program (HARP)

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If you’re not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through the Home Affordable Refinance Program (HARP). After the real estate crash, many New Jersey homeowners found themselves underwater on their mortgages, meaning they owed more money than their home was...

The Myth About Mortgage “Pre-Approvals”

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It’s early Saturday morning and Tom and Susan are celebrating. You see, their real estate agent just called to let them know that the seller accepted their offer. Tom and Susan were finally about to become homeowners. Their realtor indicated that the seller decided to accept their offer over similar offers simply because they were pre-approved for a loan. Tom and Susan thanked their agent...