
	Securing financing is just one aspect of a real estate transaction. Joseph A. DelForno Inc. is experienced at aiding new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR^® ready for the business side of real estate.

Are you thinking about financing a new home?

Stressed out about getting financing for a home purchase? You don't have to be. I have close relationships with various lenders in Jersey City, and they've helped me realize some things that make the loan application process a breeze.

1 – Assemble a list of questions about your loan program

If you find that you don't fully understand the pros and cons of the various programs, be sure to have a list of questions with you. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each program, because it's hard to understand the characteristics of fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in an interest rate, a mortgage lender is guaranteed to hold to the mortgage interest rates for the loan – often at the time the loan application is received. By floating the rate, you can lock the rate at any time between application and at the time of closing. Those who elect to float presume interest rates will fall in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to lower your interest rate

Typically you can decide to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will help you decide if purchasing points is right for you.

4 – Gather your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to preview normal questions you'll have to answer on a loan app.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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Market Watch:

Market Extra: Facebook’s ‘falling knife’ shares drop again

5/22/2012 6:50 PM

Shares of Facebook Inc. fall again, shedding another 9% on its third day of trading.

5/22/2012 6:20 PM

PC maker posts a 33% drop in profit, sending its shares tumbling after hours.

5/22/2012 6:02 PM

The PC maker’s quarterly results miss Wall Street’s expectations, and a securities regulator issues a subpoena to Morgan Stanley related to Facebook’s IPO.

5/22/2012 4:59 PM

The computer and services company decides not to participate in price wars in Asia in consumer notebooks and revenue takes a hit as a result. Now Wall Street doesn’t have confidence it can meet estimates for the full year.

5/22/2012 4:41 PM

Social-networker’s shares decline as much as 7% to lead sector into the red

5/22/2012 4:32 PM

Dell Inc., Petsmart, Take-Two Interactive Software, Hormel Foods and Facebook are among the stocks that could see active trading on Wednesday.

5/22/2012 4:06 PM

Exxon, Chevron lose ground on weaker oil prices, while the broad equities market moves up

5/22/2012 4:06 PM

Ralph Lauren, DSW, Express, Benihana are some of Tuesday’s biggest moving stocks.

5/22/2012 4:00 PM

Loose talk by European policy makers is adding to investors’ jitters at a time when markets need to be calmed down, writes Nicholas Spiro.

5/22/2012 4:00 PM

Shares of DaVita Inc. dip on the company’s plan to purchase a doctors’ group.