Open House Sunday 11/17 From 2-4PM! 9 Cozy Drive in Malalapan, NJ

 


9 Cozy Drive, Home For Sale In Manalapan, New Jersey

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Open House 

$1,289,000
Single Family Home
Main Features
7 Bedrooms
5 Bathrooms
1 Partial Bathroom
Lot: 2.01 acre(s)
Location
9 Cozy Drive
Manalapan, NJ 07726
USA

Jodi Goldberg Jodi Goldberg

(908) 770-2150
jodiagoldberg@gmail.com
http://www.JodiGoldberg.com

Listed by: Jodi Goldberg with RE/MAX Central

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What Are Your Responsibilities As A Cosigner?

Are you considering being a co-signer for someone’s home loan?

Co-signers are required in many cases and for many people. If a person has poor or no credit, an unsteady job, a high debt-to-income (DTI) ratio, or other credit issues, it can be nearly impossible to be approved for a home loan. In these cases, a person can have a mortgage co-signer who “agrees to back up your loan, guaranteeing the lender that the loan will be repaid”, according to The National Association of Realtors®. A co-signer essentially enhances your credibility as a borrower, making it much more likely that you will be approved for the loan, but picking the right co-signer is vital.

Here’s what you need to know about the responsibilities of a co-signer:

If the main owner of the loan fails to make payments, the co-signer is financially responsible for the loan and their credit score could suffer.

Co-signers should be:

  • A trustworthy person

  • Have good credit/someone who will be approved by lenders

  • Willing to be part of a long lasting agreement

  • Have a good income

  • Be 18 years or older

  • Be willing to have their income, credit history, credit score, assets, and debts scrutinized by the potential lender

Agreeing to be a co-signer for a home loan is a very serious agreement, so it is best to draw up a formal contract that both parties will have to sign. “A real estate lawyer can help you and your co-signer draw up an agreement that specifies who will pay the bills, who will occupy the residence, and contingencies, like what happens if the main mortgage holder cannot make the payments”, according to the National Association of Realtors®. This contract can help protect both the main owner of the loan and the co-signer against any fall-outs or worst-case scenarios.

Who would make a good co-signer?

  • A lot of people ask friends or family members to co-sign for them because these types of relationships are often built on trust.

  • Younger people, perhaps someone purchasing their first home, may ask their parents to co-sign on the mortgage.

  • With married couples, typically a spouse will be the co-signer for a home loan.

  • Siblings

  • Aunts or uncles

  • Grandparents

  • Business partners

  • Long-time friends

The National Association of Realtors® says that in an ideal agreement, “the co-signer should never have to hear from the bank after the papers are signed”. Before asking someone to be your co-signer, be sure that you are ready for the responsibility of owning a loan.

To read more on the responsibilities of a co-signer, check out this article.

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What Are The Advantages To Buying A Home With Cash?

Making a cash offer on a home eliminates the need for bidding wars and gives peace of mind to the buyer and the seller. Here’s why:

If you’re in the market to buy a new home, you may have heard about some of the advantages of buying a home outright with cash. According to research by the National Association of Realtors®, almost a third of all residential sales are cash transactions and more than 70% of properties bought by investors and international buyers are cash transactions as well. So, you may be wondering, what exactly are the advantages to buying a home with cash and how can I make a cash offer?

Preparing yourself to be able to make a cash offer on a home requires patience and self-control. Follow these tips to increase your chances of being able to purchase a home with cash:

  • Set aside any unexpected money that comes in (inheritances, bonuses from work, etc.).

  • Lock your money in a long-term CD to earn interest.

  • Look for homes that you can afford with the money you have (the goal is to not have to borrow).

  • Homes outside of the city limits are likely to be cheaper-look there.

  • Manage your spending habits; don’t make impulse purchases.

  • Ask your family and friends for support and help to keep you spending smart.

Here are just some of the advantages to purchasing a property with cash:

  1. Most sellers favor buyers who can offer cash payment. Sellers don’t have to worry about a cash buyer being approved for loans, so it’s a very reliable choice for the seller. Plus, a cash transaction means a quicker and smoother sale. So, cash buyers have greater negotiating power on price, closing time, repairs, and more.

  2. Some sellers will discount the cost of the property if the buyer pays in full, upfront, with cash.

  3. When using cash, and not a loan, the home-buying process is quickened and becomes much easier for both parties. Without loans, there are no stacks of paperwork to fill out and you don’t run the risk of being delayed for approval.

  4. Cash buyers can save money on closing costs, bank appraisals, mortgage applications and fees, title insurance, and more.

  5. There is no risk of loan denial with cash purchases.

  6. Mortgage interest on a typical 30-year loan can double or even triple the original purchase price of a home. Cash buyers don’t have to pay interest on any loans, so they end up paying much less for their homes in the long run.

  7. Cash buyers are able to save valuable time by eliminating the need to search for the optimal lender (which can be hard to find) and gather the necessary documents for the lender.

  8. Cash buyers have a better sense of security about their home. Paying in full and upfront eliminates the chance of losing your home if you can’t afford to repay mortgage loans. Losing a job, becoming injured, or facing other hardships doesn’t affect the cash buyer’s sense of security-no matter what the circumstances, there is never the risk of losing the home to foreclosure.

  9. Cash buyers gain full, immediate, excellent equity in their home. In the case of any type of financial emergency, homeowners can draw on that equity for quick cash.

  10. Cash buyers are able to avoid mortgage applications, which can often prevent a buyer from being able to afford the home. This can happen when a low appraisal of the home causes the lender to reduce the loan amount offer to the buyer, making it impossible for the buyer to afford the home.

When a buyer purchases a home up front with cash, both they and the seller benefit. Financially and emotionally, cash transactions are beneficial to everyone involved in the transaction. Cash transactions save time and money and allow homeowners to be more secure in their purchase. Cash transactions can, in many cases, take away a lot of the uncertainty associated with buying and selling a home.

For more information on the advantages of buying a home with cash, read the original article from Realtor.com here.

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NEW LISTING: 42 Canadian Woods Road In Marlboro, New Jersey

 


42 Canadian Woods Road, Home For Sale In Marlboro, New Jersey

Overview

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Market Stats 

$629,000
Single Family Home
Main Features
5 Bedrooms
2 Bathrooms
1 Partial Bathroom
Interior: 3,108 sqft
Lot: 0.43 acre(s)
Location
42 Canadian Woods Road
Marlboro, NJ 07746
USA

To get updates on open home dates and other property events, please click the “Like” button below:


Jodi Goldberg Jodi Goldberg

(908) 770-2150
jodiagoldberg@gmail.com
http://www.JodiGoldberg.com

Listed by: Jodi Goldberg with RE/MAX Central

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Open House! June 23 1-4 PM

 


Welcome to 7 Edgewater Drive, Home for Sale in Matawan, New Jersey

Overview

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Open House

Market Stats

$370,000
Single Family Home
Main Features
3 Bedrooms
2 Bathrooms
Interior: 2,072 sqft
Location
7 Edgewater
Matawan, NJ 07747
USA

To get updates on open home dates and other property events, please click the “Like” button below:


Jodi Goldberg Jodi Goldberg

(908) 770-2150
jodiagoldberg@gmail.com
http://www.JodiGoldberg.com

Listed by: Jodi Goldberg with RE/MAX Central

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5 Apps For First Time Home Buyers

If you’re looking to buy a home, your smartphone is the first thing you should turn to. In the age of technology, the phrase “there’s an app for that” is definitely the case; especially when it comes to real estate. Get the edge you need in your home search by downloading these five apps that will help you throughout the process.

HomeSnap

If you’re out and about visiting a new neighborhood and you see a home for sale, snap a photo with the HomeSnap App. The app will identify the home and find out the value, the price it last sold for, how many beds and baths, and so much more! You will get the information you want at the push of a button and if it’s right for you, you’ll know to contact the realtor for more information.

Device: iPhone, iPad, Android

Price: Free

AroundMe

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This app is perfect for homebuyers who aren’t familiar with a new location. AroundMe instantly gives you the resources to find out information about what’s around you. Whether you’re looking for supermarkets, stores or entertainment in the area, this app will definitely come in handy.

Device: iPhone, iPad, Android

Price: Free

Mortgage Calculator

At this point, any mortgage calculator available for your smartphone will do. When you find a home you love, you will be able to plug in the numbers yourself to determine if the price along with the taxes is in your budget. Just do a quick search in your app store to find one available for your phone or device.

Device: iPhone, iPad, Android

Price: There are plenty of free mortgage calculators available, so choose your favorite!

Essential Real Estate Dictionary

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Don’t worry about getting confused when hearing the real estate jargon used by realtors and other homeowners. Having this app on hand will make you look like a pro. It will serve as a reference guide for words that you might not be familiar with.

Device: iPhone, iPad

Price: $9.99

Better Homes and Gardens Real Estate Home Selection Assistant

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This app allows you to be your own personal assistant in your new home search. Instead of searching through the official listings photos, take your own and attach notes to each one that will remind you to ask the realtor specific questions. Additional information about the neighborhood and buying process can also be found on this app.

Device: iPhone

Price: Free

 

 

PRICE REDUCTION: 27 Sunningdale Circle, Manalapan, NJ

27 Sunningdale Circle, Manalapan, NJ 07726

$325,000

Townhouse
3 Bedrooms
2 Bathrooms
1 Partial Bathroom

More Photos and Additional Info

Interested? See more information or schedule showing

For more information, contact (908) 770-2150

Agent photo Jodi Goldberg

Phone: (908) 770-2150Listing agent/broker:
Jodi Goldberg with RE/MAX Central

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