****NJHMFA Police & Firemen's Retirement System Interest Rate Change to 3.75%****

Effective February 15, 2009the interest rate for the Police & Firemen's Retirement System Mortgage Loan Program will be 3.75%. 

This program is only available for First Time Home Buyers. 

 Currently there is approximately $64,000,000 in available funds.

Funds dried up very quickly the last time these moneys were made available, so do not wait to take advantage of this opportunity.

Call me for more information at 609-294-4349.

Karl Peidl

Senior Mortgage Consultant

Superior Mortgage Corp.

2 comments • Karl Peidl - Accredited Loan Consultant • February 03 2009 09:26AM

Mortgage Rates for First Time Home Buyers

If you work with First Time Home Buyers in the state of New Jersey, be advised that the New Jersey Housing & Mortgage Finance Agency has taken the unprecedented step of increasing their rates for the second time in as many weeks. 

Due to Wall Street market volatility that has increased the cost of mortgage revenue bonds NJHMFA's interest rates have been increased as follows effective immediately October 7, 2008:

 

First Time Home Buyer 30 Year Term

 

7.000% - First Mortgage with no Smart Start assistance

7.375% - First Mortgage with 2% Smart Start assistance

7.500% - First Mortgage with 3% Smart Start assistance

7.750% - First Mortgage with 4% Smart Start assistance

 

The 40 year team requires an additional add-on of .125%

 

 

Home Plus

 

7.375 with 3 points

 

Purchase/Rehabilitation Mortgage Program

 

7.375 with 3 points

0 comments • Karl Peidl - Accredited Loan Consultant • October 08 2008 12:47PM