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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

Established in 1980 in Chatham, New Jersey to offer real estate-related financial assistance to customers, Mortgage Access Corp. has grown by leaps and bounds. Currently serving home buyers and sellers in 36 states, Mortgage Access Corp. leads the way in full service under one roof, supplying mortgage loans and encompassing both insurance and several title insurance companies. By seeking out and contracting with Fannie Mae (the Federal National Mortgage Association), Freddie Mac (the Federal Ho ...

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Contact Me

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Jacob L. Grodanz - NMLS: 12086
Licensed: PA: #23876
2313 Burlington-Mount Holly Road
Burlington, New Jersey 08016
Phone: (609) 386-0066
Email: jgrodanz@moacc.com

 
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Mortgage Access Corp. - NMLS # 2731 (www.nmlsconsumeraccess.org). Executive Offices: 225 Littleton Road, Morris Plains, NJ 07950. Main: 1-800-829-CASH. Equal Housing Lender. All loans are subject to credit and property approval. Programs, rates, terms and conditions are subject to change without notice. Licensed in 37 states. CA (Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, File 4130435), CO (Regulated by the Division of Real Estate), GA (Georgia Residential Mortgage Licensee, License #15719), IL (Illinois Residential Mortgage Licensee # MB.0006377), KS (Kansas Licensed Mortgage Company- MC.0001229), MA (Massachusetts Mortgage Lender and Broker Licenses #MC2731), ME (Licensed as a Supervised Lender), MN: This is not an offer to enter into an interest rate lock agreement under Minnesota Law, MS (Licensed by the MS Dept. of Banking and Consumer Finance, NJ(Licensed by the N.J. Department of Banking and Insurance), NY (Licensed Mortgage Banker - NYS Department of Financial Services), OH (Registration #MBMB.850209.000 & SM.501248.000), OR (OR Mortgage Lending License #ML-2528), PA (Licensed as a 1st Mortgage Banker by the Dept. of Banking), RI (Rhode Island Licensed Lender and Loan Broker), WA (WA: Consumer Loan License CL-2731) Mortgage Access Corp. arranges loans with third-party providers. Refinancing to reduce total monthly payments may lengthen repayment term or increase total interest expense. For more licensing info, visit www.mortgageaccess.com/aboutus/licensing. This site is not authorized by the New York State Department of Financial Service. No mortgage applications for properties located in the State of New York will be accepted through this site.