Affordable Homes in Gloucester County, NJ | Real Estate For Sale
What 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:
- NJ First Time Home Buyer Mortgages, grants, down payment assistance, and more
- NJ Reverse Mortgages
- All aspects of purchase and refinance mortgages up to and over 100% of the home's value
- Home renovation loans for refinance or purchase
- Conventional, FHA, USDA, VA, HMFA, PHFA, Police and Fire, Live Where You Work, and more
Contact Steve Kappre directly: 856-419-3561 | Subscribe to Steve's blog via e-mail