Mindblown: a blog about philosophy.

Consider using your home equity to buy a second home, weighing the pros and cons. Benefits include less cash needed upfront, competitive interest rates, and potentially more funding available. However, risks include putting your home at stake, higher interest rates than traditional mortgages, and additional payments on your primary residence. Continue to full article

The Murphy administration allocates $27M for affordable housing projects in NJ. The initiative includes 87 affordable rental and homeownership units, targeting smaller projects with 25 or fewer units.

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) sets income criteria for low-income housing eligibility. Income limits for a family of 3 in New Jersey: – Very low: <$42,700 – Low: $42,700-$68,350 – Moderate: $68,350-$109,350

The average 30-year fixed mortgage rate increased to 6.87% this week from 6.74% last week. The 15-year fixed mortgage rate also rose to 6.21% from 6.16% last week. Mortgage demand decreased, with both purchase and refinance activity dropping. Factors affecting rates include inflation and the federal funds rate. Consider your financial stability, long-term plans, and…

New Jersey's Real Estate market saw a decrease in listed homes yearly in January. January 2024 saw 6,088 newly listed homes in New Jersey, ↓ 5.93% yearly.

The administration oversees the Statewide Open Enrollment Site for the Section 8 Housing Choice Voucher Program in NJ. The program aims to offer housing subsidies to low-income residents, assisting them in finding affordable houses.