Mortgage Information
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Rates are simply amazing right now, which is great news, as, if you're like most buyers, a home is the most expensive purchase you'll ever make, and you'll probably need some form of financing.
There are many lending institutions that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research and shop around to ensure you get the mortgage that best meets your needs at the best price. This isn't something you want to leave to the last minute, either. You're going to want to know how your credit scores stack up, as scores do affect rates. Three companies my buyers have appreciated for rates and service are Joann Cabe at Wells Fargo 201 910-45626, Ryan Barry at NJ Lenders at 973 454-5183, and Cosmo Rizzo at University Mortgage 973 885-1685.
But there's something else you really need to do if you, like most home owners I know, plan to enjoy the benefits of a mortgage interest tax deduction: write your congressman and senators and tell him/her to protect it. All the budget controversy in Washington has made this deduction a very attractive target. The National Association of Realtors has spent a great deal of time and money working to protect the deduction for all of our customers. But this is something your voice will be heard on as well. Do it today! |
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Use the mortgage calculators below to assist you in making some decisions around financing your new home.
Mortgage Qualification Calculator
This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables.
Mortgage Payment Calculator & Amortization Table
This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.
