Buying a home is exciting—but figuring out the best loan option  can feel overwhelming. Two of the most popular low down payment programs are the FHA Loan  and the Conventional (HomeReady/Home Possible) Loan . Both are designed to help first-time homebuyers, but they have key differences. Let’s break it down. 💰 FHA Loan (3.5% Down) ✅ Credit score as low as 580 ✅ Only 3.5% down ✅ Flexible debt-to-income ratio (up to 54% ) ⚠️ Mortgage insurance require

Another successful closing with the LJ Mortgage Team Inc.! 🎉 This time, we’re celebrating a beautiful property in Jamaica, Queens...

Another Success Story from the LJ Mortgage Team Inc. At LJ Mortgage Team Inc. , we believe in turning homeownership dreams into reality—just like we did for our latest clients in Floral Park, NY ! ✅ Here’s a quick snapshot of their winning file : 📌 Property & Financial Breakdown Purchase Price:  $875,000 Down Payment:  20% Credit Score:  740 (Excellent!) Household Income:  $141,000 Monthly Debt:  Just $130—an ideal profile for loan a

At LJ Mortgage Team Inc. , we’re proud to help hardworking clients from all walks of life achieve their dream of homeownership. This recent closed file review in Indiana  is a perfect example of how flexible mortgage solutions can make a big difference! 📂 Loan Snapshot Loan Program:  Bank Statement Loan Purchase Price:  $490,000 Down Payment:  21% Borrower:  Truck Driver Credit Score:  762 Household Income:  $77,000 Monthly Liability:

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

We’re excited to congratulate our buyers on their brand-new home in Farmingdale, NY! 🏡 This beautiful property features 4 bedrooms, 2 bathrooms, and 1,283 sq. ft. of living space —a perfect fit for their growing family. 📊 The Numbers Behind the Purchase Purchase Price:  $609,000 Down Payment (20%):  $121,800 Household Income:  $123,000 Monthly Debts:  $694 Property Taxes:  $9,944/year Home Insurance:  $2,020/year Monthly Payment (with escrow):  $4,197.56 Clo