Ozzie Rabinowitz - Mortgage Lender

If you're worried mortgage rates are too high, read this:

The average 30 year fixed mortgage since 1971 has been 7.74% 🥸

Give me 2 minutes, and I'll share with you 3 rules of homeownership:

1. Never exceed 28% your monthly pre-tax income on your total mortgage payment.

2. Never have less than 3 months of mortgage payments in savings.

3. Never have less than 3% of your home's value in savings for potential maintenance costs.

Anyone who has bought leads will appreciate this one.

Move Inc. (owner of Realtor.com), the National Association of Realtors (NAR), and a host of others are being sued by eight real estate agents for selling them bunk leads. According to the lawsuit, half of the leads being sold were individuals who had no intent to transact real estate. Now while NAR had no part in the sale of these leads, the plaintiffs are arguing that the leads were SO crappy that NAR should still be held responsible... even though they sold off the Realtor.com brand years ago.

Hello Agents! You are invited to this is a virtual master class you will not want to miss with the President of the NAR.
It is set for Wednesday August 14th starting at 2PM
DM me for the registration link.

📢 Attention landlords and tenants! FHFA's new tenant protections for multifamily properties start in February 2025. Key changes include 30-day notices for rent hikes and lease ends, plus a 5-day grace period for rent. Details here

FHFA Announces Multifamily Tenant Protections Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced a set of required tenant protections for multifamily properties financed by Fannie Mae and Freddie Mac (the Enterprises). This announcement results from FHFA’s extensive and ongoing engagement with market participants a...

Get in touch for more information

Did you know? 7.9 million renter families in 2022 were "income mortgage-ready"! 📈 Learn more about how to check if you're ready to make the leap to homeownership. 🏠 Discover More

Some renters may be ‘mortgage-ready’ and not know it. Here's how to tell Roughly 7.9 million households in the U.S. were considered "income mortgage-ready" in 2022, Zillow found in an analysis. Here are two things to you should know.

🚀 Exciting news from HUD! They've updated the 203(k) program, increasing repair limits to $75,000 and extending rehab periods. This is a huge win for homebuyers looking to renovate. 🏠 Ready to learn more? Read More

FHA Changes 203(k) Rehabilitation Mortgage Insurance Program Learn more about the changes announced by the Federal Housing Administration (FHA) to their 203(k) Rehabilitation Mortgage Insurance Program.

🏡 The Sandwich Generation's dual caregiving roles impact their homeownership journey. Read more about it here! https://www.realtor.com/research/sandwich-generation-2024/

Realtor.com Survey Finds 33% of ‘Sandwich Generation’ Say their Circumstance has Helped then Buy a Home Roughly one in six Americans falls into the ‘Sandwich Generation’, meaning they are caring for their children and their parent(s)/grandparent(s) at the same time. Though these responsibilities can be challenging to manage, roughly a third of this generation reports that their arrangement has led...

What's up with Real Estate? National news and local views for the week

🌟 Who had it tougher? A fascinating look at Boomers vs Millennials in homebuying. Dive into the historical mortgage rates and economic challenges each faced! Read more here

No, Boomers Didn't Have It Easier Than Millennials When Buying Their First Homes During the years when boomers turned 30, the mortgage burden averaged 33.2% of income, the highest of any living generation.

www.listreports.com

Struggling with home affordability? 📉 Lower mortgage rates might be the key. A 1% drop can mean big savings and more buying power. Read the full report here: https://www.realestatenews.com/2024/05/17/report-lower-mortgage-rates-key-to-improving-affordability💸 Find out how this could benefit your clients!

www.realestatenews.com

Assumable mortgages: A hidden gem in real estate? 🏠🌟 Find out how this could change your selling strategy! DM for info!

Ready to buy your first home in NJ? Consider an FHA loan for lower down payments and flexible terms—perfect for first-time buyers! Here’s your quick start guide:

Check Credit Score: Aim for 580+ for a 3.5% down payment. Below 580? You might need 10% down. 🔍
Save Funds: Budget for your down payment, closing costs, and mortgage insurance. 🐷
Gather Documents: Collect your income, employment, and asset details. 📁
Find FHA-Approved Lender: Search the HUD site for lenders certified to offer FHA loans. 🔎
Get Pre-Approved: Boost your buying credibility by understanding your budget. ✅
Home Shopping: Work with a realtor to find a home that meets FHA standards. 🏠
Appraisal and Closing: Complete your appraisal and finalize your purchase. 📅
Embark on your homeownership journey with ease! DM us for personalized guidance through the FHA loan process. 🌟

🛠️ Big update! Fannie Mae and Freddie Mac have temporarily paused enforcement of replacement-value insurance requirements. This is a relief for many homeowners facing high insurance costs. Interested in learning more? DM for details! 📩