NJ First-Time Home Buyers

head_left_image

Affordable Homes in Gloucester County, NJ | Real Estate For Sale (Part 1)

Affordable Homes in Gloucester County, NJ | Real Estate For Sale

Gloucester County, NJ Home BuyerWhat many of today's buyers are finding, is that even in a buyer's market when homes are priced lower then they have been for years, the majority of homes are still out of the price range for a low-to-medium income family. And the foreclosure/short-sale option is rarely successful for the NJ first time home buyer.

Enter your local affordable housing; Homes in Gloucester County, NJ range from $40,000 - $100,000. You read that right: $40,000 is the entry price level for a one bedroom.  Currently there are homes available in Mantua and Williamstown, NJ.

The affordable housing units have income limitations. For example, the income for 2 people must be between $31,120 and $49,792 for these units, and the income for 3 people must be between $35,010 and $56,016.

Believe it or not, there isn't a waiting list for these homes. In fact, the affordable housing units fly under the radar and many home buyers never even know about these options. Some buyers are fortunate enough to become home owners and actually pay less per month then they did when they rented.

Catch the rest of this series to see some of the mortgage financing options.

 


Steve Kappre is a Mortgage Advisor with Treasury Mortgage, a subsidiary of Aurora Financial Group. For more info check out:

Contact Steve Kappre directly: 856-419-3561 | Subscribe to Steve's blog via e-mail

Comment balloon 4 commentsStephen Kappre • December 17 2009 10:17PM

Comments

A 40k house in New Jersey. That's unbelievable. I've heard of that down here but it really surprises me that prices are that low up there.

Posted by Nathan Tutas, Your Central Florida Real Estate Expert (Tutas Towne Realty, Inc.) over 8 years ago

I like that photo with the house and key. Where'd you get that?

And this is good info. You do a great job of explaining loans, without talking over people's heads. WTG! =)

Posted by Lisa Hill, Daytona Beach Real Estate (Florida Property Experts) over 8 years ago

Wow, that's a fantastic entry price on the market!  I am always amazed at the buyers that call and throw a figure out to me of what they are looking for.  They, in turn, are always surprised at what they can get for LESS!

Posted by Leesa Finley, RED Properties - Raleigh NC Real Estate (RED Properties) over 8 years ago

Thats amazing Steve ?? $40K huh !

Nice spotlight !

Posted by Sheldon Neal, That British Agent Bergen County NJ (Bergen County, NJ - RE/MAX Real Estate Limited) over 8 years ago

This blog does not allow anonymous comments