Mortgage Information

When deciding to make the most important and expensive purchase of your life, which is buying a home, it is important to arrange for the right type and form of financing.

A variety of mortgage products is offered by many lending institutions and it is important to do as much extensive research as possible to ensure you get the mortgage which will best meet your needs at the right price.

I work with different banks and financial instituations to give you the most options. I am thorough in Conforming, FHA, VA, USDA, Freddie Mac, Fannie Mae, Non Conforming ,Lender Paid Mortgage Insurance LPMI  and more

It is important to have a home is the largest financial asset for most families and when deciding to sell, a lot of preparation and work is involved. It is extremely critical and crucial to have an experienced real estate professional to handle all the details that go into the sale of a home at the best possible price.

I have over 30 Years experience in all types of property. I will provide you with strategic marketing, showcasing your home and a high-quality listing service is my top priority. Making sure everything signed, sealed and delivered by the closing date is a promise that I make to all my clients.

I will help each of my clients in every possible way to make an informed  decision. Every factor that affects the cost or value will be conveyed. I will provide assistance in every phase of the process, from identifying the preferred property, to the contract, to negotiations, to financing, to closing. You will not be disappointed

Lawrence M. Goodman Licensed Real Estate Broker

Please Read Carefully

Things NOT TO DO While Purchasing a Home

NO Major Purchase or any Credit Applications of any kind.

 

Do not involve yourself in any major purchase or credit applications that would create debt of any kind. This includes but is not limited to: furniture, appliances, electronic equipment, jewelry, vacations, credit card applications, retail store credit lines and automobiles.

 

Do Not Move Money Around

 

When a lender reviews your loan package for approval one of the things they are concerned about is the source of funds for your down payment and closing cost. Most likely, you will be asked to provide statements for the last 2-3 months of any kind of liquid assets. This includes checking accounts, savings accounts, money market funds, certificates of deposit, stock statements, mutual funds and even your 401K and other retirement funds.

 

If you have moved money between accounts during that time, there may be large and small deposits and withdrawals.

 

The mortgage underwriter (the person that actually approves your loan) will probably require a complete paper trail of deposits, especially if some of them are in cash form. You may be required to produce cancelled checks, deposit receipts, and other seemingly inconsequential data.

 

Depositing cash unless approved by your lender … is a problem

 

It is easy to become frustrated at a lender however they are only doing their job and following regulated guidelines to ensure quality control and eliminate potential fraud. Moving money around even if you are consolidating could make it more difficult to properly document.

 

Should you change jobs?

 

No please talk to your lender in advance if you plan to change jobs.

 

 

 

 

 

The mortgage calculator below can be used to help you in making the right decision regarding financing of your new home.

Mortgage Qualification Calculator

Determining how much money you qualify to borrow can be done using this calculator. Your financial institutions would require you to be subject to a credit approval. They will take into consideration your existing debt load, income, amount of down payment and other variables.

Mortgage Payment Calculator & Amortization Table

Determining your mortgage paym ent based on the purchase price, mortgage term and interest rate can also be calculated using the calculator. The interest and principal payments over the term of the mortgage is shown in the amortization table. the mortgage.