|
Financing your move in NJ
With the rising cost of buying a house or buying a condo in New Jersey, combined with the the high cost of living in Northern New Jersey, we want to tell you about an alternative financing strategy that is becoming more common around our state. To save your hard earned income and put your mortgage financing harder at work for you, consider an 80-10-10 loan How it Works- 80% of the new home’s price covered by a 30-year first mortgage, followed by a 10% 15-year second mortgage, and capped off by a 10% equity down payment. This way, you’ll save yourself from paying the unnecessary Premium Mortgage Insurance (PMI) costs and save some of your hard earned money up front. To find a lender who can get you the best mortgage rate, term, lock, downpayment, or lowest fees in New Jersey, check out www.bankrate.com. Choose the best lender in your area, and see if they can help you get your 80-10-10 loan in NJ. College Tuition
Getting financing for higher education in NJ can be tricky. Qualifying for financial aid in NJ is important, but having a back up plan is also a smart move. As a good parent, we want the best for our kids and often times that means sacrificing now for a greater future for your child. And that sacrifice usually means finding money for college, either out-of-state or in a New Jersey college like Rutgers, Montclair State University, Camden County College, Farleigh Dickinson, NJIT, The College of New Jersey (TCNJ), Stevens, Stockton, or another of New Jersey’s schools of higher education. To help you send your New Jersey college bound senior to an out-of-state school or a NJ college , open Roth IRA’s so that they can be available for higher educations costs without fear of government penalties. Roth IRA’s offer the same tax advantages as 529 plans while still having money available for your own retirement should you choose not to use the funds for the kids’ education. Talk to your financial advisor today or find one by looking through Yahoo Personal Finance. To learn more about NJ financial aid options, check out New Jersey’s Higher Education Student Assistant Authority (HESAA). More NJ Relocation Tips
We will be bringing you more NJ relocation tips to make moving in New Jersey even more simple. Take a look at our Relocation Checklist for more useful information about making your move to New Jersey even easier. |
