Michael Byrne

As a Flemington, NJ Mortgage Loan Officer, I have many programs to offer a consumer. They include and are not limited to: FHA Mortgages, VA Loans, Fannie Mae Loans, Adjustable Rate Mortgages, USDA RD Loans, Jumbo Mortgage Loans, and Stated Income Loans. We will review briefly each type of loan listed above to go over the programs I offer as a Flemington, NJ Mortgage Loan Officer . I can offer additional mortgage programs as a broker as well, giving us the ability to offer the best of both worlds. For a direct quote on any particular program, please contact me or call me directly at 908 531 6170. Here is a synopsis of several of our different loan programs:

FHA Mortgages: as a Flemington, NJ Mortgage Loan Officer, a large portion of our loans is through FHA and we have FHA Approved underwriters on staff. We offer the traditional 203B, 3.5% down FHA Purchase Money loan as well as the FHA renovation loans known as the 203k or Streamline K loans as well. Here is a recent blog I wrote about the FHA Adjustable Rate Program. The fixed rate program is super as well.

VA Mortgages: 100% financing for qualified veterans is a great loan program for veteran first-time homebuyers and seasoned homebuyers alike. With VA approved underwriters on staff, we offer in-house underwriting for VA Loans. Here is a recent blog I wrote with some basic information regarding the VA Mortgage Program.

USDA RD Loans: even in New Jersey, there are plenty of areas qualified for the moderate income rural development 100% financing program. As a Flemington, NJ Mortgage Loan Officer, my company underwrites and funds these loans ourselves. Here is some info on the USDA program and eligible areas in NJ. The most important part to remember about the USDA program is you must qualify income-wise and the property location must fall within an approved area.

Jumbo Mortgage Loans: We offer several different true Jumbo Mortgage programs on a brokered basis. Although many parts of NJ have benefitted from the "super-conforming" loan limits, some areas still have relatively low loan limits. The Princeton area comes to mind, for one. We have true jumbo loans available for those above the fannie mae loan limits. Here is a recent blog about our jumbo programs in NJ.

Stated Income Mortgage Loans: We do not offer the traditional "liar's loan", but rather have on a brokered basis access to Stated Income Mortgage Loans for the self-employed borrowers for which this program was originally intended. This blog has more information about our stated income brokered product.

For more information on the loans we offer as a Flemington, NJ Mortgage Loan Officer, use my contact form or call me at 908 531 6170.

Mortgage refinancing tips: In our current low rate market, many lenders are inundated with loan requests. Current turn times to close a loan are still around 30 days, giving we receive the necessary documentation in a timely manner. The tightening of the secondary market for Jumbo Loans , FHA and Va Loans , and Fannie Mae loans. In addition to shopping for a good rate with a competent Loan Officer, here are some basic Mortgage Refinancing tips to help you close within 30 days on a refinance transaction at the current market rates:

•- Get an approximate current market value of your home prior to an Appraisal. Online sites such as zillow will give you a ballpark of your current market value. A phone call to the real agent professional who helped you purchase your home is a better idea. The most disappointing the thing about our current market is seeing someone who is otherwise well-qualified to refinance have an appraisal come in too low to obtain financing that makes financial sense.

•- Check your credit. Your mortgage professional should review your credit with you prior to sending you a loan proposal. Keep in mind inquiries within the same industry within a 30 day period will generally only count as 1 credit inquiry on your credit report. You can also go online and obtain a free copy of your consumer credit report from many sources to review your credit report for accuracy. If your score needs some massaging, here are some tips: Your Credit Rating: a Few Tips For Those Who Pay Their Bills On Time .

•- Have your documentation ready. Lenders now will require the following for a standard full documentation loan:

- 2 years w-2's(and signed tax returns in many cases),

- 1 month paystubs(or pension/SSI receipts),

- 2 full months asset statements-ALL PAGES,

- Legible photo ID, a copy of a phone bill with phone # and address,

- Your homeowners insurance declaration page.

- Other documentation may include a VA Certifcate of Eligibility(for VA Loans), a credit explanation, and even a job history explanation.

People in Condominiums may need to ask their association to fill out paperwork regarding the Association as well. Other documentation may be required after loan underwriting as well, including a possible review appraisal in many cases. Of all of the mortgage refinancing tips I could state, having your documentation is the most important.

•- Ask questions. Your Loan Officer should be able to respond to your questions in a timely manner, and should manage expectations properly. Many LO's such as myself make themselves available after business hours and on weekends to answer questions via email and by phone. Demand excellence from your Loan Officer.

In today's market, lenders are wary of fraud as well as unsaleable loans in the secondary market. Loan Officers want to make loans, and want to ensure they are making good solid loans in this unstable market. I hope these mortgage refinancing tips help!

Jumbo Mortgage Rates in NJ have eased a bit as of late. Despite the news of tightening of the credit markets, it appears that after long last that there is a bit of easing in the Jumbo Mortgage Market. We have established investor relationships in order to offer many different jumbo loan programs. It seems that many portfolio lenders still have an appetite for jumbo loans in New Jersey.

Current highlights for Jumbo Mortgage Rates in NJ include great jumbo rates even where the Conforming High Balance loan limit was not raised significantly in areas such as Mercer County, Atlantic County, and Burlington Counties. In other areas such as Essex County and Union County, we can offer financing on jumbo loans to 1,500,000 and above.

Fully documented loans for Jumbo Mortgage Rates in NJ are available with a 20% down payment or 20% equity in refinances on loan amounts up to 1 Million. Excellent rates are available on 5/1, 7/1, and 10/1 ARM Programs, as well as the standard fixed rates. Call or email me for customized quotes and details on a loan program for you.

A recent client of mine has taken a relatively novel approach: he is using an interest-only ARM as a means of accerelating his mortgage, rather than making just the minimum interest payment. While I do not recommend interest-only Jumbo Mortgage Rates for everyone, there is a benefit to many who are familiar with a how an interest-only loan works.

Stated Income programs for the self-employed and No-doc loans are slowly coming around as well. Call for specific details on these Jumbo Mortgage Rates in NJ, and for all programs as a specific program can be tailored to your needs.

All in all, it appears that slowly but surely credit is beginning to loosen for qualified borrowers!

Atlantic County Mortgage Loan Programs abound, as there are a variety of available loan options for first-time buyers, those "upsizing" or "downsizing", or those who simply wish to refinance their existing mortgage. Atlantic County Mortgage Loan Programs include and are not limited to: FHA Mortgages, VA Loans, Fannie Mae Loans, Adjustable Rate Mortgages, USDA RD Loans, Jumbo Mortgage Loans, and Stated Income Loans. We will review briefly each type of loan listed above to go over the programs we offer as a New Jersey Mortgage Banker. We offer additional mortgage programs as a broker as well, giving us the ability to offer the best of both worlds. For a direct quote on any particular program, please contact me or call me directly at 908 531 6170. Here is a synopsis of several of our different loan programs:

Currently I am working on an investment property purchase in Egg Harbor Township. It appears that there are many oportunities to purchase nice properties with strong cash flow in many parts of Atlantic County. Second home financing is also plentiful currently for those looking to purchase or refinance a second home

FHA Mortgages are very popular among our Atlantic County Mortgage Loan Programs, as a large portion of our loans is through FHA and we have FHA Approved underwriters on staff. We offer the traditional 203B, 3.5% down FHA Purchase Money loan as well as refinancing options. Here is a recent blog I wrote about the FHA Adjustable Rate Mortgage Program. The fixed rate program is super as well.

Jumbo Mortgage Loans: We have Atlantic County Mortgage Loan Programs with true Jumbo Mortgage programs on a brokered basis. Although many parts of NJ have benefitted from the "super-conforming" loan limits, some areas still have relatively low loan limits. Atlantic County's loan limit is just $453,000 currently. Here is a recent blog about our jumbo programs in NJ.

USDA RD Loans: in much of Atlantic County, New Jersey, there are areas qualified for the moderate income rural development 100% financing program. As a New Jersey Mortgage Banker, we underwrite and fund these loans ourselves. Here is some info on the USDA program and eligible areas in NJ. The most important part to remember about the USDA program is you must qualify income-wise and the property location must fall within an approved area.

VA Mortgages: 100% financing for qualified veterans is a great loan program for veteran first-time homebuyers and seasoned homebuyers alike. With VA approved underwriters on staff, we offer in-house underwriting for VA Loans. Here is a recent blog I wrote with some basic information regarding the VA Mortgage Program.

Stated Income Mortgage Loans: We do not offer the traditional "liar's loan", but rather have on a brokered basis access to Stated Income Mortgage Loans for the self-employed borrowers for which this program was originally intended. This blog has more information about our stated income brokered product.

For more information on the Atlantic County Mortgage Loan Programs we offer, use my contact form or call me at 908 531 6170.

Monmouth County Mortgage Loan Programs abound, as there are a variety of available loan options for first-time buyers, those "upsizing" or "downsizing", or those who simply wish to refinance their existing mortgage. Monmouth County Mortgage Loan Programs include and are not limited to: FHA Mortgages, VA Loans, Fannie Mae Loans, Adjustable Rate Mortgages, USDA RD Loans, Jumbo Mortgage Loans, and Stated Income Loans. We will review briefly each type of loan listed above to go over the programs we offer as a New Jersey Mortgage Banker. We offer additional mortgage programs as a broker as well, giving us the ability to offer the best of both worlds. For a direct quote on any particular program, please contact me or call me directly at 908 531 6170. Here is a synopsis of several of our different loan programs:

FHA Mortgages are very popular among our Monmouth County Mortgage Loan Programs, as a large portion of our loans is through FHA and we have FHA Approved underwriters on staff. We offer the traditional 203B, 3.5% down FHA Purchase Money loan as well as refinancing options. Here is a recent blog I wrote about the FHA Adjustable Rate Mortgage Program. The fixed rate program is super as well.

Jumbo Mortgage Loans: We have Monmouth County Mortgage Loan Programs with true Jumbo Mortgage programs on a brokered basis. Although many parts of NJ have benefitted from the "super-conforming" loan limits, some areas still have relatively low loan limits. Monmouth County's loan limit is $729,000 currently. Here is a recent blog about our jumbo programs in NJ.

USDA RD Loans: particularly in western Monmouth County, New Jersey, there are areas qualified for the moderate income rural development 100% financing program. As a New Jersey Mortgage Banker, we underwrite and fund these loans ourselves. Here is some info on the USDA program and eligible areas in NJ. The most important part to remember about the USDA program is you must qualify income-wise and the property location must fall within an approved area.

VA Mortgages: 100% financing for qualified veterans is a great loan program for veteran first-time homebuyers and seasoned homebuyers alike. With VA approved underwriters on staff, we offer in-house underwriting for VA Loans. Here is a recent blog I wrote with some basic information regarding the VA Mortgage Program.

Stated Income Mortgage Loans: We do not offer the traditional "liar's loan", but rather have on a brokered basis access to Stated Income Mortgage Loans for the self-employed borrowers for which this program was originally intended. This blog has more information about our stated income brokered product.

For more information on the Monmouth County Mortgage Loan Programs we offer, use my contact form or call me at 908 531 6170.