The Perth Amboy housing market is experiencing steady growth, with home prices increasing by around 5% over the past year. This growth is driven by the city's strong economy, good schools, and community amenities. As a borrower in Perth Amboy, it's essential to stay informed about local market trends and outlook. Our team at NMHL is committed to providing you with the latest information and expert guidance to help you make informed decisions.

Some popular neighborhoods in Perth Amboy include:

• Downtown Perth Amboy: A vibrant area with shops, restaurants, and entertainment options.
• The Historic District: A charming neighborhood with historic homes and community events.
• The Waterfront Area: A scenic area with parks, waterfront views, and outdoor recreational activities.

Property taxes in Perth Amboy average approximately 2.25% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $340,000 home, you can expect to pay around $6,375 per year in property taxes. Our team can help you understand how property taxes will impact your mortgage payment and provide guidance on how to factor them into your budget.

It's also essential to note that property taxes in Perth Amboy can vary depending on the neighborhood and property type. Our team can help you explore the different neighborhoods and find the one that's right for you.

Perth Amboy is served by the Perth Amboy Public Schools district, which includes several elementary, middle, and high schools. The district has a strong reputation for academic excellence, with several schools receiving high ratings from the New Jersey Department of Education. When buying a home in Perth Amboy, it's essential to consider the school district and how it may impact your home's value and your family's educational options.

Some of the top-rated schools in Perth Amboy include:

• Perth Amboy High School: A highly-rated public high school with a strong academic program.
• Perth Amboy Middle School: A well-regarded public middle school with a focus on STEM education.
• Downtown Elementary School: A highly-rated public elementary school with a strong focus on literacy and numeracy.

New Jersey offers several first-time homebuyer programs, including the New Jersey Housing Finance Agency's (NJHFA) First-Time Homebuyer Program. This program provides low-interest mortgages and down payment assistance to eligible borrowers. NMHL is an approved lender for this program and can help you navigate the application process.

Some of the benefits of the NJHFA First-Time Homebuyer Program include:

• Low-interest mortgages with competitive rates.
• Down payment assistance of up to 5% of the home's purchase price.
• Flexible underwriting guidelines.

At NMHL, we're committed to providing mortgage options for underserved borrowers, including those with bad credit, self-employed individuals, and veterans. Our team can help you explore the different programs available and find the one that's right for you.

Some of the programs we offer for underserved borrowers include:

• FHA loans: A popular option for borrowers with lower credit scores.
• VA loans: A zero-down mortgage option for eligible veterans.
• Self-employed mortgage programs: A range of options for self-employed borrowers.