
	Securing financing is just one aspect of getting into a new home. Veltri and Associates, Realtors is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR^® experienced at the business side of buying and selling.

Are you financing a new home in Toms River?

When buying a home, applying for a mortgage loan is very exasperating for a lot of people, but it doesn't have to be. I have close relationships with a lot of lenders in Toms River, and they've helped me understand some things that will make the loan application process very manageable.

1 – Create a list of questions regarding your loan program

Make sure to have a list of questions if you do not entirely comprehend the pros and cons of the various loan programs. I or one of my trusted lenders will be able to assist you in understanding the advantages and disadvantages of both programs, because it is hard to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in the interest rate, your mortgage lender is guaranteed to keep to the interest rates for the loan – often at the time the loan application is presented. By floating the rate, you can lock the rate at any time between application and the issuing of closing documents. Those who prefer to float believe the interest rates will fall in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Decide if you want to pay additional points to reduce your rate

Usually you can opt to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. If you're uncertain if buying points is right for you, click here to use our points calculator.

4 – Gather your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to see typical questions you'll have to answer on a loan app.

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