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Finding the right program

Finding a mortgage that's right for you should be easy. But there are many programs to choose from and many ways to structure a loan. Different loan programs will offer benefits that appeal to borrowers at different stages of life.

Before you begin, ask yourself these important questions:

  • How long do you anticipate living in your new home?
  • Do you expect any changes over the next few years, such as expanding your family or having children go off to college or move away?
  • Do you expect any changes in income due to promotions, relocations, retirement, inheritance, or pensions?
  • Are you expecting a change in your investments?
  • Do you have a retirement plan at work and do you contribute to it?
  • Do you have other debt?

In the end, be sure you are given a complete picture of exactly how much your mortgage will cost you over the period of time you anticipate having the loan in place. This is the single most important factor you should consider when shopping for a mortgage. Not only does this data illustrate the bigger picture of your financial goals, it allows for adjustments should things change a little sooner than expected. A good time frame for this projection is anywhere from three, five or even up to seven years.

When shopping for a mortgage, you should always evaluate your choices carefully and consider how they will fit in with your long-term financial plan.

Gather documentation

To consider a loan application, all lenders need personal information to verify employment for you and your co-borrower (if there is one). Information regarding debts and assets also is required.

Expedite the paperwork process. Gather the following items:

  • Most recent paystubs for one month
  • W2s from the last two years
  • Signed copies of your last two years' Federal tax returns, including all schedules
  • Homeowners insurance company name and number
  • Most recent asset statements for two months (checking, savings, investment, retirement)

This way you’ll be prepared once you decide which loan is right for you.

About

Weichert Financial Services Established in 1980 in Chatham, New Jersey to offer real estate-related financial assistance to the customers of Weichert, Realtors, Weichert Financial Services has grown by leaps and bounds. Currently serving home buyers and sellers in 36 states, Weichert Financial Services leads the way in full service under one roof, supplying mortgage loans and encompassing both Weichert Insurance Agency and several tittle insurance companies. By seeking out and contracting with ...

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225 Littleton Road
Morris Plains, New Jersey 07950
Phone: (800) 829-2274
Email: wfs@weichertfinancial.com

 

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Company NMLS # 2731 (www.nmlsconsumeraccess.org). Mortgage Access Corp. d/b/a Weichert Financial Services, Executive Offices: 225 Littleton Road, Morris Plains, NJ 07950. 1-800-829-CASH.  Licensed Mortgage Lender – AL, AK, AR, CA (Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, File 4130435), CO, CT, DE, DC, FL, GA (Georgia Residential Mortgage Licensee, License #15719), IL (Illinois Residential Mortgage Licensee), IN, IA, KS (Kansas Licensed Mortgage Company), KY, LA, ME, MD, MA (Massachusetts Mortgage Lender and Broker Licenses #MC2731), MI, MN: This is not an offer to enter into an interest rate lock agreement under Minnesota Law, MS (Mississippi Licensed Mortgage Company), NJ(Licensed by the N.J. Department of Banking and Insurance), NM, NY (Licensed Mortgage Banker - NYS Department of Financial Services), NC, OH (Registration #MBMB.850209.000 & SM.501248.000), OK, OR (OR Mortgage Lending License #ML-2528), PA, RI (Rhode Island Licensed Lender and Loan Broker), SC, TN, TX, VA (Licensed by the Virginia State Corporation Commission - Lender License #MC-297, NMLS #2731 (www.nmlsconsumeraccess.org),  WA (WA: Consumer Loan License CL-2731),WV, and WI. Weichert Financial Services arranges loans with third-party providers.   Equal Housing Lender.  Equal Housing Opportunity.

Note: Web site authorization by the New York State Department of Financial Services is pending. Until this site is authorized, no mortgage loan applications for properties located in New York will be accepted through this site.

 

 

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