Apr. 27.

10 Essential Tips for Selecting the Right Moving Company

By Admin | Posted in Moving Relocating |
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Picking the right moving company can go a long way in making your moving experience a more manageable experience. Consumers should try to be diligent and detailed. There are certain steps that will make the process less stressful. Being inquisitive never hurts- ask the moving company the right questions that pertain to your move to ascertain whether they’re up for the job.

Most moving companies aren’t transparent with moving costs and don’t offer consumers with a great deal for their money. Unfortunately, relocation firms taint their own reputation by making their clients’ transition more rather than less stressful. Consumers should try to do the following research when looking for movers in NJ and beyond:

1. Check for online reviews- look into the moving company’s online reviews. There are bound to be a few negative reviews- check how the moving company responded to them. Also, feel free to ask them for their side of the story

2. Ask for at least 3 references- make sure you ask the movers you are considering for at least 3 references. Make sure you ask the mover’s previous clients detailed questions pertaining to their move. This will allow you to learn more about the companies you’re considering.

3. Make sure the company has valid state and long distance moving licenses

4. Insist on binding flat rate estimates- hourly movers are more likely to tack on fees that were not agreed upon upfront

5. Make sure a moving representative comes by for an in-home estimate.

6. Pay attention to how quickly, efficiently and professionally the moving companies you are considering answer your questions and concerns

7. Don’t just go for the lowest bidder- if a moving quote seems to be too good to be true don’t fall for it. Cheap is expensive when it comes to moving. You should try to seek a reliable mover at an affordable transparent and binding cost.

8. Ask your realtor, friends and family- chances are someone you know or deal with have had a pleasant moving experience. It makes sense to at least call the movers suggested.

9. Compare mover packages- when comparing moving quotes it makes sense to try to also pay attention to what is included in the rate. Do the number of hours match up (for hourly movers)? How many free boxes are included (if any)? What extra charges could you incur?

10. What techniques and methods does the moving company considered employ to properly protect your belongings? How they deal with claims? Are they able to write an insurance contract? If so, at what extra cost?

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Apr. 26.

Jumbo Loans and Tips for Researching Mortgage Rates

By Admin | Posted in Mortgage Refinance |
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Jumbo mortgage loans are designed for consumers who are looking to obtain financing which exceeds the conforming loan limits set by the Office of Federal Housing Enterprise and Oversight. The limits vary in different areas of the country based upon real estate prices during the previous year. For example, the conforming loan limit for Detroit, Michigan will likely be lower than it is in a high cost area such as San Francisco, California. Both Fannie Mae and Freddie Mac restrict the mortgages that they can purchase on the secondary market based on these limits. Because Fannie and Freddie do not purchase these loans, it’s up to individual lending institutions to create their own products and make them available to consumers. Several years ago, after the subprime mortgage meltdown began, there was very little appetite for jumbo mortgage loans in the secondary market which led to jumbo mortgage rates increasing substantially. Lenders were not too keen on shelling out millions and millions of dollars of 30 year mortgage debt in declining real estate environments without the ability to sell the loans. Fast forward to 2011and there is more interest in jumbo mortgages and programs are available from a variety of lenders at much lower rates than seen in some years past.

As with conforming loans, jumbo mortgages are available as both fixed rate mortgages and adjustable rate products. Consumers looking for the lowest payments may find themselves seeking an adjustable rate product which offers a low introductory rate for the first 3-10 years of the loan. For example, a 3/1 ARM typically means that the introductory rate is set for the first 36 months of the loan, 5/1 ARM – 60 months, 7/1 – 84 months, etc, etc. Most ARM programs are 30 year amortizing loans which begin to adjust after the introductory rate expires based upon the loans’ margins, caps, and the index which the loans are tied to. Despite typically having slightly higher rates, many people feel more comfortable in a fixed rate mortgage product. Jumbo fixed rate mortgages often come in 15 or 30 year terms and the interest rate does not change during the course of the loan. A licensed and trained mortgage professional should be able to help you weigh the pros and cons of adjustable rate and fixed rate programs so that you can make a well informed decision.

There are a variety of places where you can research current mortgage rates and programs. Web sites such as ForTheBestRate.com, Bankrate.com, and BurlingtonMortgage.biz are great places to get an idea of where the lenders are currently pricing their loans. Another option is to submit a request for competing offers through lead aggregation sites such as LendingTree.com or MortgageLoan.com. They will typically sell your request to 1-4 lenders who will then offer you several financing proposals. Another option that you may want to investigate is speaking with local banks and/or credit unions. Many small direct lenders will offer competitive pricing with the hopes that they will be able to obtain your depository accounts. No matter which route you choose to take, there is plenty of information online that can help you position yourself for negotiating a great deal on your next jumbo loan.

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