Whether you’re a business owner ready to purchase your own building or an investor looking to add commercial property to your portfolio, commercial loans don’t have to be complicated . At LJ Mortgage Team , we help simplify the process so you can focus on growing your business and building long-term wealth. How Commercial Loans Can Help You Commercial financing can be a powerful tool when used strategically. These loans can help you: Purchase commercial properties  such as mi

Your income and down payment don’t just influence your mortgage they define  your buying power. This week’s Buying Power Breakdown shows exactly how fast things can change based on just two numbers. 🔹 Scenario 1 Income:  $120,000 Down Payment:  $60,000 Estimated Max Home Price:   ≈ $767,099 Estimated Monthly Payment:   ≈ $4,900 With a strong income and a solid down payment, buyers in this range unlock significantly higher home affordability even at identical rates, taxes, an

Are you self-employed or a 1099 earner who’s tired of hearing “you don’t qualify”  just because your tax returns don’t show your real income? You're not alone and you’re not out of options. At LJ Mortgage Team Inc. , we proudly offer flexible Non-QM (Non-Qualified Mortgage)  programs built specifically for business owners, gig workers, and independent contractors whose traditional tax documents don’t tell the full story of their financial strength. If you have strong deposits

Unlocking what you can truly afford every Friday! Navigating the housing market can feel overwhelming, especially when you’re trying to understand exactly how much home you can afford. That’s why every Friday, we bring you Your Weekly Buying Power Breakdown  a simple, transparent look at what your real  purchasing power is. Whether you're renting, saving, budgeting, or exploring multi-family “house hacker” opportunities, we break it all down based on: ✔️ Your income ✔️ Curre

If you're planning to buy a home or refinance in 2026 , there’s good news— higher conforming loan limits  are giving buyers more room to breathe and more control over their financing options. That means more purchasing power , improved access to competitive interest rates, and flexibility when choosing the right loan for your goals. At LJ Mortgage Team Inc. , we’re here to make the entire process simple, transparent, and stress-free. Whether you’re stepping into your first ho

Buying a home in Queens? You’re going to hear a lot  of new terms at closing—and two of the most confusing are Title Insurance  and Homeowners Insurance . Even though both are essential parts of a smooth purchase, they protect you from totally different  risks. Here’s the breakdown every first-time buyer should know. 👇 ✅ What Is Title Insurance? Title insurance protects you from past problems  with the property’s ownership—issues that happened before  you b

If you’re thinking about buying a home, understanding your credit score is key. Different loans have different requirements: FHA Loans:  580+ Conventional Loans:  620+ No Income Check / Jumbo Loans:  700+ The good news? There are actionable steps you can take to help your score climb ⬆️ and improve your chances of mortgage approval. 5 Ways to Grow Your Credit Score Cut Utilization Keep each credit card’s balance between 10–30% of your limit. Pay down balances b

If you’re wondering whether now is the right time to refinance your mortgage, you’re not alone. Many homeowners are exploring refi options to lower monthly payments, reduce interest costs, or tap into savings opportunities especially with tools like a CEMA refinance , which can significantly reduce upfront expenses for New York borrowers. ✅ When a Refinance Makes Sense If your current mortgage rate is higher , a refinance could lower both your monthly payment   and  

Before you start shopping for your dream home, it’s important to know exactly what you can afford. Understanding your numbers upfront means fewer surprises later and a smoother home-buying experience. Here’s a real example straight from our in-house affordability tools: 💰 Scenario 1: Sample Home Purchase • Home Price:  $600,000 • Down Payment:  $60,000 (10%) • Loan Amount:  $540,000 • Interest Rate:  6.19% • Term:  30 Years • Estimated Monthly Payment:   $4,228.83 That month

When exploring mortgage or loan options, you may come across something called a balloon payment   and it’s important to understand exactly what that means before you commit. A balloon payment  is a large lump sum due at the end of a short loan term , typically 5–10 years , after making lower monthly payments  that are calculated as if the loan were stretched over a longer amortization (like 30 years). This setup can make your payments more affordable upfront , which is great

Have you ever opened your escrow statement and wondered why your monthly mortgage payment suddenly went up or even down? You’re not alone! Many homeowners are surprised by these changes, but the explanation is simpler than you think. 🔎 What Is an Escrow Account? An escrow account is set up by your lender to cover property taxes and homeowner’s insurance  on your behalf. Each month, part of your mortgage payment goes into this account, and when tax

When applying for a mortgage, one of the most important numbers lenders review is your Debt-to-Income Ratio (DTI) . Simply put, DTI measures how much of your monthly income goes toward paying debts. The lower your DTI, the stronger your application and the better your chances of securing a great interest rate. Here’s what you should know: ✅ Conventional Loans  – Most lenders allow up to 43% DTI  (some may stretch to 49% ). ✅ FHA L

At LJ Mortgage Team Inc., we love helping clients find financing solutions that fit their unique situations and this closing was a perfect example. 📍 Location:  Nassau County, NY 💰 Purchase Price:  $735,000 💵 Down Payment:  25% 📊 Closing Costs:  $36,000 📈 Credit Score:  820 📂 Loan Type:  Bank Statement Loan Our self-employed client needed flexibility and speed   without the hassle of providing tax returns or traditional income documentation. With a Bank Statement Loan

When you're buying a home, it’s easy to feel overwhelmed by the long list of closing costs that show up before you get the keys. But did you know not all closing costs are created equal and not all of them are within your control? At LJ Mortgage Team , we believe that understanding the details upfront is the key to a smooth closing. Here's a simple breakdown of who controls what  when it comes to closing costs: ✅ Sections A & B – 100% Lender Control

If you’re shopping for a home loan, you’ve likely heard the term “buying down your rate.” But is it really worth it? Let’s do the math together. Say you lock in a 6.5% interest rate  — your monthly principal and interest would be around $3,160 . Now, if you decide to buy down the rate  to 6.25% , it’ll cost you roughly $6,200 upfront . Your new monthly payment would be $3,079 , saving you just $81 per month .