Home Refinance in Gloucester County, NJ
Have you been thinking about refinancing your home? With all of the negative housing industry news lately, it is easy to forget about lowering your housing bills with a refinance. Rates are currently very low and there is a large percentage of home owners who can benefit from a refinance.
Does your math line-up?
You can refinance to save money every month. You can also refinance to change the loan terms. Typically when home owners change loan terms, it is from a 30 to 15 year loan. The reality is that I've met many home owners who's "math" doesn't line up. For example, I may ask them when they plan to retire. They answer, "in 10 years", but the facts are that their mortgage will last for the next 30 years, and they can't afford to comfortably make the mortgage payments on their "retired income" (in 10 years).
As the saying goes, "You don't know unless you ask!" Should you refinance now? Maybe. The best plan is to talk to someone with access to mortgage rates and options, that can give you sound advice. Talk to a knowledgeable loan officer today. The worst he/she can say is, "Now is not a good time". Conversely they may help you save money, time, and help you properly plan for retirement.
If you would like to talk to a local mortgage loan officer, feel free to call and I'll do my best to point you in the right direction for your personal needs.
Steve Kappre is a mortgage loan officer in New Jersey. Steve is married with 3 children, has lived in South Jersey his whole life and has 10 years experience as a mortgage loan officer. For more info or questions feel free to contact Steve.
- NJ First Time Home Buyer
- Purchase, refinance, rehab loans
- Conventional, FHA, USDA, VA, HMFA, First Time Home Buyer, Police and Fire, Live Where You Work, and more
Call direct @ 856-419-3561 | Subscribe to Steve's blog via e-mail | NJ Loan Officer .com | NMLS ID: 218007







The answer is YES a buyer may qualify for a mortgage with a large derogatory/collection account on their credit report. If the buyer has to pay it off before or at settlement (or not at all) mainly depends on the underwriter/lender.

What can make my rate higher?
Have you ever done something just to spite someone? Sure, we all have. Somehow it makes people feel a little better to act like a jerk or dis somebody. Well I'm here to tell you that getting mad at creditors and not paying your bills out of spite will hurt nobody but yourself!
These loans are TOXIC!?!?
If the public was to believe everything that the media "reported" on, they would believe that the refinance of a home mortgage would be nearly impossible. While times have certainly changed, there are certainly options to refinance your home, lower your rate, and even take cash out or consolidate your debt.
I often take things in this business for granted, thinking most professionals know what is going on in the mortgage market. Maybe I should have shared about this months ago. I guess better late than never.
So if you or someone you know has a solid job with solid pay, and is looking for a home loan, but have a side business - BEWARE. Those write-offs that saved you a buck yesterday can rear their ugly head to deny you a loan today.
Credit reports expire 90 days from the date the credit report was pulled, this is for both purchase and refinance transactions. For construction and construction-to-permanent financing a credit report is valid for 120 days. This is important to keep in mind as often the time-frame from the day of credit pull to the day of the transaction's closing can easily be over 90 days.