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Applying For a Mortgage? Here’s What You Should Avoid Once You Do.
While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan.
Don’t Deposit Large Sums of Cash
Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.
Don’t Make Any Large Purchases
It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income ratios (how much debt you have compared to your monthly income). Since higher ratios make for riskier loans, borrowers may no longer qualify for their mortgage. Resist the temptation to make any large purchases, even for furniture or appliances.
Don’t Cosign Loans for Anyone
When you cosign for a loan, you’re making yourself accountable for that loan’s success and repayment. With that obligation comes higher debt-to-income ratios as well. Even if you promise you won’t be the one making the payments, your lender will have to count the payments against you.
Don’t Switch Bank Accounts
Lenders need to source and track your assets. That task is much easier when there’s consistency among your accounts. Before you transfer any money, speak with your loan officer.
Don’t Apply for New Credit
It doesn’t matter whether it’s a new credit card or a new car, when you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), it will have an impact on your FICO® score. Lower credit scores can determine your interest rate and possibly even your eligibility for approval.
Don’t Close Any Accounts
Many buyers believe having less available credit makes them less risky and more likely to be approved. This isn’t true. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those aspects of your score.
Do Discuss Changes with Your Lender
Be upfront about any changes that occur or you’re expecting to occur when talking with your lender. Blips in income, assets or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. Ultimately, it’s best to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature.
Bottom Line
You want your home purchase to go as smoothly as possible. Remember, before you make any large purchases, move your money around, or make major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan.
Confused About What’s Going on in the Housing Market? Lean on a Professional.
If you’re thinking about buying or selling a home, you probably want to know what’s really happening with home prices, mortgage rates, housing supply, and more. That’s not an easy task considering how sensationalized headlines are today. Jay Thompson, Real Estate Industry Consultant, explains: If you’re thinking about buying or selling a home, you probably want to know what’s really happening with home prices, mortgage rates, housing supply, and more. That’s not an easy task considering how sensationalized headlines are today. Jay Thompson, Real Estate Industry Consultant, explains:
“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.”
Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty in the market. As Jason Lewris, Cofounder and Chief Data Officer at Parcl, says:
“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”
But it doesn’t have to be that way. Buying or selling a home is a big decision, and it should be one you feel confident making. To help you separate fact from fiction and get the answers you need, lean on a local real estate advisor.
A trusted expert is your best resource to understand what’s happening at the national and local levels. They’ll be able to debunk the headlines using data you can trust. And using their in-depth knowledge of the industry, they’ll provide context so you know how current trends compare to the normal ebbs and flows in the industry, historical data and more.
Then, to make sure you have the full picture, they’ll tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you’ll use all of that information to make the best possible decision for you.
After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where an agent comes in.
Bottom Line
If you have questions about the headlines or what’s happening in the housing market today, let’s connect so you have expert insights and advice on your side.
‘FUR’EVER HOME PET VENDOR EVENT & ADOPTION DAY
ERA Central Levinson is holding a Pet Vendor Event and Adoption Day at the Monroe branch office on Saturday, September 24th from 10am to 2pm. Adopt a dog or cat, donate items or money to the Trenton Animal Shelter, or sign up to become a foster pet parent! While getting to know all the adorable, adoptable cats and dogs, enter to win a dog house courtesy of Finance of America. Vendors attending: Goochie Pooch & Cats Too Groomer, In-Home Grooming by Iana, All Critters Rescue Custom Beds & Mats, Veterinary Clinic, and Kelly Baron Pet Photography. For more information, visit FurEverHome.ERAcentral.com
Saturday, September 24, 2022, 10am to 2pm
349 Applegarth Road, Monroe Twp, NJ 08831
Contact: Donna Nielsen 732-894-6226
2023 CORNHOLE TOURNAMENT to Benefit MDA
CORNHOLE TOURNAMENT to benefit MDA
SUNDAY, APRIL 30th, 2023
12:00 pm start time
ERA Central Realty Group presents the 3rd Annual Cornhole Tournament for MDA to take place at noon on Sunday, April 30th at the Millstone Elks Lodge, 22 Burnt Tavern Rd, Clarksburg, NJ 08510. Rain date will be May 7th. Register your team, sponsor the event and join in on the fun!
Visit ERAcornhole.Eventbrite.com to sign up your team and/or to become a sponsor. The cost is $50 for a team of two. Teams must be registered by April 14th and are guaranteed at least three games of play. Team members must be at least 13 years old to play. Check-in begins at noon that day and the tournament begins at 12:30pm. Kids are welcome to attend. There will be prizes and basket raffles, and food and drinks for purchase.
Since 2012, ERA Central Realty Group has raised over $68,000 for Muscular Dystrophy Association. Every $1,000 raised sends one child with neuromuscular disease to MDA Summer Camp.
For more information, contact Stephanie Bellanova at 609-847-2982 or Stephanie@ERAcentral.com
Congratulations to the 2022 recipients of the ERA Central EDGE Scholarship!
Through their applications, these young people have shown that they embody the same ideals for which our Realtor® professionals are so well known: Ethics, Dedication, Genuineness and an Entrepreneurial spirit.
The scholarship program, which began in 2005, is funded by the Realtor Associates of ERA Central Realty Group and matched by the company. It was founded based on giving back to the community and honoring the families that have supported ERA Central for more than three decades. Since its inception, the EDGE Scholarship has awarded $72,200 in scholarships.
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Melissa Domen |
Sarah Esmai |
Sophia Moret |
Arav Raval |
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(camera shy) |
Philip Angarone, Realtor Associate® and Scholarship Committee Chairperson says of this year’s competition, “All of the 60 applicants from 28 central New Jersey high schools provided impressive applications. Our winners should be very proud of themselves!”
To learn more about the scholarship and to apply, visit EDGEscholarship.com
‘FUR’ EVER PET ADOPTION DAY
On Saturday, May 7th, 2022 the Cream Ridge branch held its first ever Pet Adoption Day and it was a huge success! The Fur-Ever Home Pet Adoption Day because “pets need help finding furever homes, too” was a collaboration with the ERA Central Charity Council, Amazing Mutts and Lucky Lives Cat Rescue of Cream Ridge.
Nearly 50 community members came to cuddle with over 25 puppies and kittens and many were adopted that day! The winner of the doghouse raffle, sponsored by Finance of America, was Armmel Kane. Some other prizes were Homemade Dog Treats by MOST, won by Adrienne Barrow, and Carmella’s Chocolate won by Kristyna Dyson.
Discovering the Charm of Bordentown: A Guide to Living, Parks, and Downtown in New Jersey
BORDENTOWN
Why is Bordentown, New Jersey considered a good place to live. There are a variety of reasons. It is a small, historic town with a strong sense of community, and it offers a variety of amenities and activities for residents, including parks, recreational facilities, and a downtown area with shops and restaurants.
Bordentown NJ Parks
Bordentown has several parks and recreational areas for residents to enjoy. Some popular parks include:
- Joseph Lawrence Park: This park features a playground, a basketball court, a baseball field, and a walking trail. It also has a large open field where residents can play sports or have picnics.
- Mary Fitzgerald Park: This park is located on the Delaware River and features a playground, a basketball court, a baseball field, and a pavilion. It also has a boat launch for residents to access the river.
- Joseph C. Shaner Memorial Park: This park has a playground, a basketball court, a baseball field, and a pavilion. It also has a large open field where residents can play sports or have picnics.
- Columbus Park: This is a small park with playground equipment and a picnic area.
- Green Street Park: This park features a playground, a basketball court, a baseball field, and a pavilion. It also has a large open field where residents can play sports or have picnics.
Additionally, residents can also enjoy the Delaware and Raritan Canal State Park, which features a 70-mile long towpath that offers hiking, fishing, and biking.
Click Here for all Homes For Sale in Bordentown
Bordentown NJ Recreational Facilitates
In addition to parks, Bordentown, NJ also offers a variety of recreational facilities for residents to enjoy. Some examples include:
- The Bordentown Community Aquatic Center: This facility features a large pool, a diving well, a water slide, and a kiddie pool. It also offers swimming lessons and other aquatic programs for residents of all ages.
- The Bordentown Community Center: This facility offers a variety of recreational programs and activities for residents, including sports leagues, fitness classes, and cultural events. It also has a gymnasium, a fitness center, and a dance studio.
- The Bordentown Senior Center: This center offers a variety of programs and activities for senior citizens, including exercise classes, educational programs, and social events.
- The Bordentown Skate Park: This park is a popular spot for skateboarders, BMX riders and scooter riders of all ages and skill levels.
- The Bordentown Youth Center: This center offers a variety of programs and activities for young people, including sports leagues, fitness classes, and educational programs.
These are just a few examples of the recreational facilities available in Bordentown, NJ. The city and county also have various recreational programs and activities throughout the year, and also nearby towns, such as Trenton and Hamilton, also offer recreational and cultural opportunities.
Downtown Bordentown NJ
The downtown area of Bordentown, NJ is known for its historic charm and its variety of shops, restaurants, and other businesses. Some of the popular features of the downtown area include:
- Shops and Galleries: The downtown area is home to a variety of unique shops and boutiques, selling everything from clothing and jewelry to home decor and art. The downtown also has some art galleries that showcase local and regional artists.
- Restaurants and Cafes: The downtown area has a diverse range of restaurants, cafes and pubs that offers a variety of cuisines, from American to Italian, Mexican, and more. Some of them have outdoor seating areas, perfect to enjoy a meal while enjoying the historic charm of the downtown.
- Cultural Venues: The downtown area features several cultural venues such as the historic Old Barracks Museum, a museum that tells the history of New Jersey through the eyes of the soldiers and civilians who lived there. The Roebling Museum is also located in the downtown, it’s dedicated to the history of the Roebling Family and their contributions to the development of the steel industry in the United States.
- Annual events: The city hosts several annual events such as the Bordentown City Farmers’ Market, which runs from May through November, and the Summer Concert Series, which features live music performances in Joseph Lawrence Park. The Festival of Lights, a holiday event that takes place each December, is also popular among residents and visitors.
These are just a few examples of what the downtown area of Bordentown, NJ has to offer. The city has a strong sense of community and the downtown area is the heart of it. The downtown area is walkable and it’s a great place to explore the historic charm and unique shops and restaurants that the city has to offer.
It is also located near major highways, making it easy to travel to other parts of the state and the surrounding region. Additionally, it is considered a safe place to live with good schools and low crime rates.
These are the reason why we love Bordentown and think you will love it too.
#Bordentown #Downtown #Parks ##SkatePark #YouthCenter #SeniorCenter #Hisroic #BordentownCity#ERAcentral #TrustedAdvisor
SHRED EVENT
On April 9th, the Cream Ridge office held the 4th Annual Shredding Event. 
A record 190 cars were in line and a whopping two truckloads were shredded on site as the event grows more popular each year. New Egypt Girl Scout Troop 440 sold Girl Scout Cookies to those waiting in the shredding line. The community-wide shred event makes it possible for members of the community to reduce their exposure to identity theft risk by having their personal and confidential materials securely destroyed in a locally owned and operated SafeGuard Document Destruction state-of-the-art mobile shredding truck.
Free Community Shredding Event! Cream Ridge
FREE SHREDDING EVENT!
CREAM RIDGE
SATURDAY, APRIL 9th, 2022
9am to 12pm
210 Route 539, Cream Ridge
Open to our neighbors in Plumsted,
Allentown and Upper Freehold
No need to remove paper clips, staples, hanging file folders, etc.
ITEMS NOT ACCEPTED:
- 3-Ring Binders
- Media Items
- Metal Objects
- Computer Hard Drives
- CDs and Cases
- Plastic Objects
- X-Rays
In the event that the line is long, you will be permitted five boxes at a time. You are welcome to get in the line as many times as you wish, as long as time and shred space allows.
Identity theft is one of the fastest growing non-violent crimes in America. It impacts nearly 9 million victims each year, and approximately 75% of cases are a result of paper documents getting into the wrong hands. Proper destruction of confidential documents is a critical step in ensuring members of the community do not become victims of identity theft.
A community-wide shred event sponsored by ERA Central Realty Group makes it possible for members of the community to reduce their exposure to identity theft risk by having their personal and confidential materials securely destroyed in a SafeGuard Document Destruction state-of-the-art mobile shredding truck.
SafeGuard Document Destruction is a locally owned company specializing in document destruction. You can be rest assured that your most sensitive and proprietary materials are destroyed on site in the state-of-the-art shredding vehicles prior to leaving the site. Business, home office, and residential clients have entrusted SafeGuard to maintain their information security, legislative compliance, and personal and professional privacy for over 20 years. SafeGuard is a NAID AAA Certified and has GSA approval. For more information, visit SafeGuardDD.com
This free event is sponsored by ERA Central Realty Group as part of its ongoing community outreach mission. ERA Central Realty has been a part of the Plumsted, Cream Ridge, and Allentown community for over 40 years. ERA Central and its agents are involved in many charitable and community efforts, such as MDA Summer Camp, Project One, Move for Hunger, and their own EDGE Scholarship, for which over $68,000 has been awarded to local college-bound high school students since 2005.
Virtual Home Selling Program
For years, we have helped military personnel, relocation employees and people too far or too busy to sell their homes. Virtual Home Selling is easy!
Here’s How
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1. Educating our Customers
We will guide you through every step of the transaction to make the sale of your home seamless. |
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2. Virtual Listing Consultation
Let’s schedule a virtual appointment (Hangout, Messenger, Zoom, etc.) to discuss what matters most to you when selling your home |
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3. Electronic Signature
Sign your documentation electronically from the comfort of your home via Dotloop. |
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4. Virtual Showcasing
We create an unparalleled virtual campaign around your home, with options like 3D interactive tours, video walk-throughs or live virtual tours. |
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5. Negotiation
We will handle all negotiations keeping your best interests in mind, while assuring you get the maximum dollar amount in the quickest amount of time. |
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6. Inspection
Our inspectors will schedule the appointment at a time that is convenient for you. |
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7. Closing Time
Our closing attorneys and title company have protocols in place to handle your closing- in person, virtually or with minimal contact |
