Newly Listed Home in Franklinville, NJ

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Luxury two story home on private corner lot in Washington Oaks. Formal foyer entry with hardwood flooring, large eat-in kitchen with cherry cabinets, corian countertops, center island, stainless steel appliances, tile backsplash and hardwood flooring. Spacious morning room open to kitchen that leads to rear paver patio with hottub. Formal dining room and wet bar off kitchen. Dining room has tray ceiling, box and crown molding. The first floor also has a two story great room with gas fireplace, office and formal living room. Four bedrooms and three full bathrooms on second floor, master bedroom has tray ceiling, gas fireplace and walk-in closet. Master bathroom has Jacuzzi tub, stall shower, double vanity and tile flooring. There is a second staircase in the back of the home leading to the kitchen. Finished basement with full bathroom, possible 5th bedroom and walkout entrance. Covered front porch, three car attached garage, security system, sprinkler system, two zone gas heat and central air, Delsea school system. Convenient access to Routes 55, 40, 47 and 322.

This listing presented by The W.Scott Sheppard Team. Call today for your private tour!  Stacy 856-364-0772

Trainers look no further beautiful horse farm on 37+ acres

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Beautiful working Horse Farm for sale in Upper Deerfield Twp. Cumberland County, New Jersey. Once known as Bar S Performance Horses, llc. This 38 acre +/- facility is located 7 miles from exit 32B via Route 55. Just off of Landis Avenue Route 56 West. and 5 miles from the Centerton Inn by Parvin State park. Also, 10 miles from the route 77 and route 40 circle off of Highway 77South.

The 3 bd. 2 full bath ranch home has a private Master with walk in closet and bath. Open floor plan from living room to eat in Kitchen with utility room. Hallway pantry and 2nd bath closets to 2 additional beds. Small front foyer with coat closet. Attic and 4 ‘ crawl space, which has water conditioner system, water tank and HEPA air filter system to the heating and central air units. Ceiling fans through out. This is a custom floor plan built by Country Homes Modular in 2003 offers approx. 1400 sq ft.

Barn was built in 2003 by Pioneer Pole Buildings in PA. 110′ x 30′ with 10 ‘ concrete isle, brightly lighted. 200 amp. service with outlets at every stall and 3  GFI outlets down isle. Black powder coated steel stall fronts and gates on all 16 stalls, 2 of which are completed with 4″ concrete and drains to a French drain system. These have been used as wash stalls, dog kennels and holding stalls. Each stall is 10×12 and have steel U-Channels allowing the 10 x 12 ‘s to be removed and create foaling stalls, or storage space. The roof is insulated and there is a finished 10 x 24 ‘ office/tack room with air conditioning.

At the end of the barn you will walk into the 100′ x 130′ covered training arena with insulated roof. This is a steel clear span building with poured footings that allow for expansion of the building without the worry of a full concrete foundation under hoof. This building also has a 200 amp. service of its own and is fully lighted. The height on the outside ceiling is approx. 30’ and approx.85 ‘ to the peak. Many events and Barrel races have been hosted here. There are 9 paddocks all completed with poly coated Ramm fencing, there is no common fencing each alley way is approx.12′ between each paddock. 6 of the paddocks have run in sheds, there are 3 12×24 and 3 12×14. Water hydrants are numerous along paddocks. They range from just over a half acre up to 2 and a half.

Home faces the west with spectacular sunset views from the front porch, and an overview of the pastures. Back yard is fenced in with small block no climb for dogs of all sizes and auto lock gates on for easy access.

This facility was designed and built in 2003 by the owner operator with versatility for future expansion in any equine discipline you choose. The 25 acres facing centerton road contain an exercise track just under 1/2 mile. This area is also leased to local crop farmers. Approx.36 acres are farm preserved and can be used for numerous agriculture purposes and livestock. Or can be purchased back for development. Keeping in mind agriculture building is permitted. Approx. 2 acres surrounding the home are exempt so feel free to add on more living space !

Septic system was designed for a 5 bedroom home so there will be no additional cost there. Well is a 4’ with a new pump in 2015. All installed by reputable local contractors.

There are (always) some small fencing and stall repairs as this is a working farm. It has been well maintained and has housed up to 26 horses as a typical head count.

Heat and cooking Propane, tank is owned. Elec.or Gas for clothes dryer, there are 2 hook-ups. WtrHtr, elec. Fios internet.

A Note from the owner: I have always said ” this place is my heaven on earth”, building this farm was for the pure desire and compassion I have to share and educate horses and people to understand each other and develop a true bond. Never imagining ever selling this place, but things change and it’s time for someone else to enjoy my heaven on earth.

This listing is being presented by Stacy Schnell and the The Scott Sheppard Team.

Call today for your private tour! 856-364-0772

Custom Build Here ~ Beautiful Farm

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12.43 +/- farm in East Vineland. Three road frontages, level topography. Perfect for horse farm. 60 x 90 pole barn with riding rink and a 36 x 60 horse barn with nine 10 x 12 stalls. Convenient access to Route 55, 47, 552 and 49. Property consists of 11.94 acres Q Farm of total 12.43 acres. 

Give call today to find out mor information about this unique property.

Stacy 856-364-0772

This listing presented by The Scott Sheppard Team 

Below are a few of the questions clients often ask when making a purchase.

house pic

 

Question: What qualifies me to be a first time home buyer ? 

A- If you’ve never owned a home, you are considered a first-time home buyer. But you are allowed to be a previous homeowner and still qualify as a first-time home buyer. According to the FHA, you can do so if you have not been an owner in a primary residence for at least three years leading up to your purchase.

Question: What are closing costs?

A: Closing costs are a fee charged for various items the lender charges. These fees are an additional cost that is added onto the amount of the loan. For example:  can include items such as loan processing fees, attorney’s fees, transfer taxes, title insurance costs, inspection fees, and more. You can ask for help with these fees in certain loan situations from the seller but still must supply your down payment for the loan.

Question: What is a seller concession?

A: When there is a seller concession in place, the seller will pay for part or all of the closing costs. Different loans offer different percentages that a seller can contribute.

Question: How much money will I need down? 

A: This depends on what type of financing that you qualify for with your mortgage company. Each depending on credit score and down payment.

FHA loan requires 3.5% down and you will need to get private mortgage insurance.FHA does allow closing costs to be paid by the seller. A friend or relative can also gift the closing cost amount to the borrower.

Conventional Loan can be as high as 20% but are now lending with 5% and even 3%. Conventional loan borrowers making a down payment of less than 20 percent will need to get private mortgage insurance (PMI). The good news is that once you reach a loan-to-value ratio of at least 78 percent, you can cancel the insurance. The only way to not pay your closing costs out of pocket would be to include a seller credit as a contingency of your offer.

USDA Rural Development or USDA loans come with 100% financing. This means that no money down is required and closing costs can be either paid by the seller or financed into the loan. In short, no-money-down means the home buyer is typically not required to pay any out-of-pocket expense when the house closes. … No Closing Costs.

Home For Sale in desirable Pittsgrove

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Welcome to this beautifully maintained, 3 bed, 2 full bath home located on a corner lot in a quiet neighborhood in Pittsgrove Township. This home would be ideal for a first-time homebuyer or a couple looking to downsize. The living room and eat-in kitchen have an open layout, so it’s perfect for entertaining. The master suite offers a full, updated bathroom, and is located away from the other 2 bedrooms for additional privacy. The basement is finished for additional living space, and there are 2 additional rooms in the basement that could be utilized as either additional bedrooms, living spaces or extra storage. The fenced-in backyard is very spacious and offers a deck off of the back door. Access to Rt. 40 & 55 is within 10 minutes. This home is eligible for 100% USDA financing!

Call today for more information or to schedule your

own private tour! 856-364-0772 Stacy

This listing brought to you by The Scott SHeppard Team

 

How to improve my credit score

  1. Keep balances low on credit cards and other “revolving credit”. …
  2. Pay off debt rather than moving it around. …
  3. Don’t close unused credit cards as a short-term strategy to raise your scores.
  4. Don’t open a number of new credit cards that you don’t need, just to increase your available credit.
If time is a factor, here are four ways to improve a credit score in 30 days:
  1. Correct any errors on the credit report. …
  2. Become an authorized user. …
  3. Raise your available credit. …
  4. Negotiate. …
  5. 1. Make minimum payments on time. …
  6. Reduce debt-to-income ratio. …
  7. Have a good mix of debt.

Call today for more information on how to get yourself prepared to purchase a

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Can I qualify for an FHA loan?

What is an FHA Loan?

An FHA loan is a mortgage that’s insured by the Federal Housing Administration (FHA). They are popular especially among first time home buyers because they allow down payments of 3.5% for credit scores of 580+. However, borrowers must pay mortgage insurance premiums, which protects the lender if a borrower defaults.

Borrowers can qualify for an FHA loan with a down payment as little as 3.5% for a credit score of 580 or higher. The borrower’s credit score can be between 500 – 579 if a 10% down payment is made.  It’s important to remember though, that the lower the credit score, the higher the interest borrowers will receive.

The FHA program was created in response to the rash of foreclosures and defaults that happened in 1930s; to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable for people with less than stellar credit or a low down payment. Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.

FHA Loan Requirements

For borrowers interested in buying a home with an FHA loan with the low down payment amount of 3.5%, applicants must have a minimum FICO score of 580 to qualify. However, having a credit score that’s lower than 580 doesn’t necessarily exclude you from FHA loan eligibility. You just need to have a minimum down payment of 10%.

The credit score and down payment amounts are just two of the requirements of FHA loans. Here’s a complete list of FHA loan requirements, which are set by the Federal Housing Authority:

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money can be gifted by a family member.
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ back-end ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent. FHA-qualified lenders will use a case-by-case basis to determine an applicants’ credit worthiness.
  • Typically borrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made if you are out of bankruptcy for more than one year if there were extenuating circumstances beyond your control that caused the bankruptcy and you’ve managed your money in a responsible manner.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit. Exceptions can be made if there were extenuating circumstances and you’ve improved your credit. If you were unable to sell your home because you had to move to a new area, this does not qualify as an exception to the three-year foreclosure guideline.
  • The property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).

    Benefits of FHA Loans: Low Down Payments and Less Strict Credit Score Requirements

    Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a lowdown payment and you can have less-than-perfect credit. For FHA loans, down payment of 3.5 percent is required for maximum financing. Borrowers with credit scores as low as 500 can qualify for an FHA loan.

    Borrowers who cannot afford a 20 percent down payment, have a lower credit score, or can’t get approved for private mortgage insurance should look into whether an FHA loan is the best option for their personal scenario.

    Another advantage of an FHA loan it is an assumable mortgage which means if you want to sell your home, the buyer can “assume” the loan you have. People who have low or bad credit, have undergone a bankruptcy or have been foreclosed upon may be able to still qualify for an FHA loan.

    Mortgage Insurance is Required for an FHA Loan

    You knew there had to be a catch, and here it is: Because an FHA loan does not have the strict standards of a conventional loan, it requires two kinds of mortgage insurance premiums: one is paid in full upfront -– or, it can be financed into the mortgage –- and the other is a monthly payment. Also, FHA loans require that the house meet certain conditions and must be appraised by an FHA-approved appraiser.

    Upfront mortgage insurance premium (UFMIP) — Appropriately named, this is a one-time upfront monthly premium payment, which means borrowers will pay a premium of 1.75% of the home loan, regardless of their credit score. Example: $300,000 loan x 1.75% = $5,250. This sum can be paid upfront at closing as part of the settlement charges or can be rolled into the mortgage.

    This excerpt from Zillow to Read more on how to qualify simply CLICK HERE

How to qualify for a VA loan

To be eligible for a VA Loan, veterans, active duty service members, National Guard members and reservists must meet the basic service requirements set forth by the Department of Veterans Affairs. Spouses of military members who died while on active duty or as a result of a service-connected disability may also be eligible.

It’s ultimately up to the VA to determine eligibility for the home loan program, but prospective borrowers can get a good idea by looking at the VA’s basic eligibility guidelines.

You may be eligible for a VA Home Loan if you meet one or more of the following conditions:

  • You have served 90 consecutive days of active service during wartime,OR
  • You have served 181 days of active service during peacetime,OR
  • You have more than 6 years of service in the National Guard or Reserves,OR
  • You are the spouse of a service member who has died in the line of duty or as a result of a service-related disability.
How to Apply for a VA Loan Certificate of Eligibility (COE)

While you don’t need your VA Certificate of Eligibility in hand to start the loan process with Veterans United, this certificate is a very important part of your loan application. Your COE verifies that your length and character of service make you eligible to use the VA home loan benefit.

You can apply for a VA Loan Certificate of Eligibility three different ways:

  1. Apply through a VA approved lender
  2. Apply online through the VA’s eBenefits portal
  3. Apply by mail with VA Form 26-1880

This exerpt from veteransunited.com

 

Well maintained two story home on a private wooded lot

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Located in MillvilleNJ this home features an eat-in kitchen with stainless steel appliances and double sink open to Family room. Family room has gas fireplace and skylights for extra lighting. Tiled foyer, separate dining room and formal living room. Spacious bedrooms, bathrooms have tile flooring and surround, partial basement. New roof, two car attached garage with auto door opener, rear concrete patio, large fenced-in backyard. Holly Height Elementary School, easily accesible to Routes 49 and 55.

Call today and ask about property #72 Stacy Schnell~ Cell: 856-364-0772

This listing presented by The Scott Sheppard Team.

6 Things You Must Do Before Buying a Home

(TNS)—Buying a home is a huge investment—probably the most significant purchase of your life. It’s not something you should do without preparation.

Before you start on the road to homeownership, make sure you are ready.

Improve your credit score.
A high credit score snags you the best deals. “Below 660 or 680, you’re either going to have to pay sizable fees or a higher down payment,” says Barry Zigas, director of Housing Policy for the Consumer Federation of America.

This excerpt from RIS Media, please CLICK HERE to read more.