Posts Tagged Incentives
Luxury Condo Ownership at Summit Heights Condominiums Is Now Easier Thanks To Government Incentives for Middle Class Buyers
Posted by admin in Credit Score on December 28, 2011
Luxury Condo Ownership at Summit Heights Condominiums Is Now Easier Thanks To Government Incentives for Middle Class Buyers
Jersey City, NJ (PRWEB) December 16, 2011
The State of New Jersey, through the New Jersey Housing and Mortgage Finance Agency’s Workforce housing opportunity (http://www.nj.gov/dca/hmfa/consu/buyers/close), is doing condo ownership in Jersey City easier in a hard economy, with a $ 75,000 incentive for qualified buyers who encounter eligibility requirements. Program participant Franklin Development Group (http://www.franklinluxurycondos.com), a development, construction, and real estate management firm based in Montclair, N.J., has reported that due to the success of the incentive program, only three units remain in its luxury Summit Heights Condominium, located in Jersey City Heights on the Palisades in the city’s northern section.
The premium two-bedroom units—appointed with upscale features and amenities typically found in apartments twice their price—are available for immediate occupancy at a price made especially affordable at a time when working people are struggling with financial concerns. Summit Heights’ participation in the program—which aims to bring more working people back to cities like Jersey City with strong transportation hubs and employment centers—reduces the mortgage on its spacious 1100-square-foot apartments to $ 268,000 with a down payment of only 3.5%. In addition to the $ 75,000 government incentive, and with only three units still available, Franklin Development Group will pay up to $ 8000 towards the closing costs as part of this builder closeout.
“We’ve never seen the government give this kind of housing incentive before and we urge home buyers on the market for a luxury condominium to take advantage of this opportunity,” said Paul Debellis, Jr., director of marketing for Franklin Development Group. “Summit Heights offers all the conveniences of city living with some unique features that make these units an even best value in today’s real estate market.” To qualify for the government incentive, applicants must make a minimum of $ 65,000 a year and have a credit score of at least 600.
Summit Heights is well located in a thriving Jersey City neighborhood overlooking Manhattan; it is within walking holding of major transportation, shopping, and parks, with an easy commute to employment hubs in downtown Jersey City as well as New York City. It is directly crosswise the street from a shopping center, a block from a bus to downtown’s Journal Square and the PATH station, and near the light rail that connects points throughout Jersey City and Bayonne.
Deluxe Appointments, Energy Efficiency
Debellis noted that the Summit Heights units are larger than many other two-bedrooms on the market by several hundred square feet. They boast granite countertops, stainless steel appliances, and dark cherry kitchen cabinets, lots of windows that let in plenty of natural light, and wood floors. For added convenience, security, and value each unit includes a deeded parking space that belongs to the condo owner in the building’s private garage. There is also a private fitness center for tenants with a view of the New York skyline.
In addition, the building has attained the prestigious silver level of LEED (Leadership in Energy and Environmental Design) certification for its energy efficiency and sustainability measures and its commitment to improved environmental quality.
“Jersey City has so much to offer its residents, between the pressing transit, shopping, dining, and city lifestyle,” said Debellis. “For people who desire to dwell near to where they work, and be correct across the river from Manhattan, there’s ne’er been a better time to act advantage of this unprecedented opportunity to purchase in at Summit Heights.”
Summit Heights Condominiums are located at 1201 Summit Avenue in Jersey City, at the corner of Secaucus Road. For sales information or details about the $ 75,000 New Jersey Housing and Mortgage Finance Agency’s incentive program name (201) 946-5092 or visit http://franklinluxurycondos.com/summitheights.html.
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Get Your Free Credit Score and Report Online
People working to pay off their debts to improve their credit score can use free online websites as an incentive. To get your scores online for free you can go to any number of sites which are willing to share this information with you in exchange for your sharing information with them.
Finding out about your score can assist you if you are thinking about taking on more debt, such as in buying a house or automobile. Knowing your score will tell you whether or not you need to work on improving your credit score by paying more each month, or if you can afford to relax and save some money.
Once each year, people can obtain a free credit report from each of the three main credit agencies: TransUnion, Equifax, and Experian. If you want, each report can be ordered at the same time. The credit agencies usually charge for obtaining your credit score, but this too can be obtained free from each reporting agency depending on their incentives. It’s important to know that under certain circumstances, your credit report can also be obtained for free more than once a year, such as when you are turned down on a credit application. All three of these agencies also offer other services apart from maintaining and furnishing the reports.
Some companies offer services which alert you about changes in your credit report. They offer advice about lenders and credit card companies which can help a client obtain a favorable credit score. The free offers are most often used to attract potential clients to their other services. But be aware that the free services are only in place for a limited time, and usually they are coupled with registration to other paid services in exchange for accessing your free scores. Occasionally, some banks and credit card operations will post your free credit score updates on their websites; so keep this in mind as you shop around for a credit vendor.
By law, you are entitled to one free credit report from each of the three reporting agencies once each year. In order to obtain your free report, the three credit reporting agencies can be reached at the following toll-free phone numbers and web sites:
Equifax 800-997-2493 or at equifax.com
TransUnion 800-888-4213 or at transunion.com
Experian 888-397-3742 or at experian.com
It is important to keep in mind that you should probably keep your online and other credit score inquiries to a minimum since too many inquiries within a short period of time can have an adverse effect on your ability to obtain credit. Potential creditors can regard too many inquiries within a short period of time (say 30 to 60 days) as a negative, and this can result in the refusal to extend further credit. One thing that helps in this effort is to make sure that any inquires which have been made were all authorized. If there are unauthorized inquiries, write to the credit agency and to the company that made the inquiry to inform them that you did not authorize the inquiry and to remove it from your credit file.
To get your credit score online for free there are websites where you can go and you can have the results within a few minutes. Just search on the search term “free credit score” and you will find them. To obtain your free credit reports, you must go to annualcreditreport.com You can also apply for notification with some free credit score websites so that you will know each time something changes in your credit report.
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