Mortgage Information

If you are looking for a home in  Essex County, Union County, Morris County, Millburn, Short Hills, Livinston, Summit, Maplewood, Chatham, Madison, Florham Park, Essex Fells, Caldwell, Roseland, Westfield, Glen Ridge and Morristown there are many Foreclosures, Bank Owned, Distressed and Vacant Homes.

If you buy one of these homes, you will 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.

I would be happy to refer you to some very good mortgage contacts I have or to help you in any other way I can to secure the best possible rate for your home purchase.

For Police and Firefighers

I want to highlight a program for Police and Firefighters that allow loans up to $417,000 at 4.77% fixed for 30 years.  This program is funded by the state pension systems and applicants must be currently employed full-time members of the Police and Fireman's Retirement Systems and is subject to availability.  Contact me for more information.

Calculators

Here are a few mortgage calculators to help you in making some decisions about the financing of your new home.  The first two you can use within my web site.  The last two are Excel spreadsheets that you can download for your private use offline.  Feel Free to share them.

 

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.

I have put together an excellent calculator that provides a grid of monthly payments given various purchase prices and interest rates for your mortgage.  Also, put your annual taxes in and get a good estimate of your total monthly costs.

 

These are some really cool Excel calculators I have put together for your use.  Please feel free to download them and share them with a friend. This is what the calculator looks like.

 


Click here for calculator

 

Click here for 15 year calculator