Prepare to Apply

Preparing to Apply Image

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

We look forward to putting our experience to work for you! We strive to offer the best mortgage products and services in the industry. By combining our online services with a local mortgage consultant who lives right in your neighborhood, we're confident that you will receive the personal attention that you deserve. Submit a request for information, and your local mortgage consultant will contact your right away to review your information and advise you on the best loan programs and rates avai ...

 

Contact Us

Atlantic Home Loans, Inc - NMLS: 15241
50 Route 46
Parsippany, New Jersey 07054
Email: ebocchino@atlantichomeloans.com

 
Logo

Atlantic Home Loans, Inc. NMLS#15241 www.nmlsconsumeraccess.org 50 Route 46 West, Parsippany, NJ 07058 licensed or authorized Mortgage Lender/Banker by, and does not offer its loan services or products in any states other than, the following: CA Department of Business Oversight, CT Dept of Banking, DC Department of Insurance, Securities and Banking, DE Office of the State Bank Commissioner, FL Office of Financial Regulation, GA Dept of Banking & Finance, MD Commissioner and Financial Regulation, MA Division of Banks Lender/Broker MC#15241, NJ Dept of Banking and Insurance, Licensed Mortgage Banker—NYS Department of Financial Services, NC Commissioner of Banks Mortgage Lender, PA Dept of Banking, Rhode Island Licensed Lender/Broker, Virginia State Corporation Commission License MC-3001. Atlantic Home Loans is not acting on behalf of or at the direction of HUD/FHA or the Federal Government.