Table of Content
- Burlington County
- What are today’s mortgage rates in NJ?
- How to Host a Successful First-Time Homebuyer Seminar
- Home Buyer Seminars Every Month
- Free Home Buyer Seminar: Nina –Colectivo Logan Square, 2261 N Milwaukee, Chicago- 1/21/2023, 12:00pm
- Don’t miss out!
- How to Plan, Promote, and Host a Home Buying Seminar
Her third attempt didn’t seem so promising, with only four attendees. However, after tracking her numbers, she realized that each one of those four people eventually purchased a home with her help, translating into a 100% conversion rate. Luckily, many property types are available to first-time homebuyers using NJHMFA programs. Qualified homebuyers can also score an additional $10,000 toward downpayment and/or closing costs through the NJHMFA Down Payment Assistance Program.
Creation of three to six-month action steps to get you closer to your goals. It’s no surprise that buying in the Garden State may come at a premium. With miles of shoreline, historic cities, and its proximity to New York, New Jersey is an ideal location for many to purchase their first home. This is a space for friendly local discussions. No racist, discriminatory, vulgar or threatening language will be tolerated.
Burlington County
In her first full year in Boston, Meserve closed $11.7 million in volume, 90% of which she says was directly from the first-time home buyer seminars. The next year, she closed $23.5 million, and the seminars continue to be a significant source of lead generation for her entire team today. I think it’s safe to say that the goal of every real estate agent is to attract more clients and increase your bottom line. Head to your local city or county website to see if there’s additional financial assistance available where you want to lay down roots.
In addition to our counseling services, we continue to advocate for policies and assistance to provide relief to New Jersey homeowners facing foreclosure. We are one of a few approved counseling agencies currently participating in the Foreclosure Mediation Assistance Program thru NJ Housing & Mortgage Finance Agency. To date, our counselors have helped troubled homeowners obtain more than $40 million in assistance through the state’s foreclosure prevention assistance programs. While our counseling services are typically provided in person, due to the COVID-19 pandemic, all services are currently being provided remotely. New Jersey provides financial assistance for first-time homebuyers by selling tax-exempt bonds to private-sector investors and by drawing on state grants and housing assistance programs. Since the agency’s borrowing costs are low, the homebuyer reaps the savings.
What are today’s mortgage rates in NJ?
Get the best NJ events, festivals, concerts and activities for families delivered straight to your inbox. Suppose you are an active member of the Police and Firemen’s Retirement System with at least one year of creditable service. In that case, you might be eligible for the Police and Firemen’s Retirement System Mortgage Program. All properties must be up to snuff with the borrower’s loan guidelines.
Department of Housing & Urban Development ’s Housing Counseling Certification, and are certified by NeighborWorks America. Get the latest advice from the best agents and experts in the country, straight to your inbox. The different types of properties – multifamily, condos, single family, etc. “So, I set the expectation from the beginning that this is going to be interactive. You’re not just gonna sit there and be a voyeur throughout the next 90 minutes.
How to Host a Successful First-Time Homebuyer Seminar
The seminars are now 100% virtual, and she does one every two to three weeks. The financial assistance from the NJHMFA goes a long way in opening the door to your first home. But even with financial worries aside, there still might be some hiccups along the way. For example, you could pick a single-family home, townhome, condominium, or manufactured or mobile home. You can also buy a multifamily house and occupy one of the units as your primary residence while generating income by renting out the other units. Homebuyer Education Certificate of Completion – provided after you complete at least one financial coaching session.
Everyone and anyone who is considering purchasing their first home is welcome to attend our workshops! HomeOwnership is more than likely the biggest purchase in a person’s life and we want to ensure that they are successful. Coaching sessions are free of charge after you complete your home buyer education training. In other words, subject to those conditions, the down payment loan transforms into a grant after five years, and you don’t have to pay back a cent.
If you create a solid seminar, and you promote it effectively, you might even have a standing-room only situation. When you’re ready to start the home buying process, make sure you get personalized rate quotes from at least three mortgage lenders. Don’t just look at advertised rates online; actually apply for preapproval and compare the interest rates and fees you’re offered. Because that’s the only way to know you’re getting the best deal possible on your new home loan.
When Meserve made the decision to do these seminars, she was new to the Boston area and knew no one. She met a lender who was new to the business, and “hungry” enough to try just about anything to earn more clients. Together, they formed an informal partnership that increased her bottom line exponentially and put both new and repeat clients in her pipeline. In episode 90 of The Walkthrough™, Meserve says that’s when the idea for doing first-time homebuyer seminars was born. At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying.
As described in the previous section, you’ll have to get an HFA, FHA, VA, or USDA loan as a first-time buyer to be eligible. And you’ll need to be within the income and home price caps. New Jersey can provide down payment and closing cost assistance of up to $10,000 through its statewide DPA program. This PDF will tell you income and sale price caps are where you want to buy in most of the state.
Meserve’s seminars run 90 minutes long on Zoom, and each participant receives a PDF containing an interactive workbook to help keep them engaged. She finds that many clients end up printing them out. When COVID hit, Meserve was forced to go virtual. That formula has proven to be just as effective as in-person seminars and even more efficient, cutting her costs substantially.
However, households with higher annual incomes might find the Homeward Bound Program’s higher income limits more agreeable. If you’re a first-time home buyer in New Jersey with a 20% down payment, you can get a conventional loan with a competitive interest rate. And you never have to pay for private mortgage insurance . This tutorial was written for the do-it-yourself types, primarily.
All approved borrowers can snap up a low-interest, 30-year fixed-rate mortgage based on the 10-year Treasury bill plus 1%. And while there is no first-time homebuyer requirement for the assistance program’s funds, at least 25% of the money is reserved for these borrowers. New Jersey’s Homeward Bound program comes with up to $15,000 of down payment assistance. Aside from that, it’s similar to the First-Time Homebuyer Mortgage; both programs offer flexible underwriting guidelines and a government-backed loan.
Their classes cover a wide range of mortgage-related topics. Attendees learn about current conditions within the mortgage and housing market, and how to develop a plan for buying a house. Meserve says commitment and perseverance were the keys. Her first two pre-COVID in-person seminars, which she held at a restaurant, were a success.
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