Securing financing is just one aspect of getting into a new home. Keyes Real Estate Services is experienced at helping new and experienced in all areas of real estate. Call us today at 980.230.9632 if your needs include a real estate pro ready for the business side of real estate.
Let Keyes Real Estate Services help you apply for your home loan.
For a lot of people, securing financing is one of the most troublesome elements of buying a house. But it doesn't have to be. I have excellent relationships with various lending companies in Mount Holly, and they've helped me understand some things that can make the loan application process much easier.
1 – Assemble a list of questions about your loan program
If you don't entirely comprehend the pros and cons of the different programs, make sure you bring a list of questions. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of both programs, because it can be a challenge to know the distinctions between fixed and adjustable rate mortgages.
2 – Determine when to lock
When you lock in the rate, it denotes that the mortgage lender commits to the interest rates for the loan – typically at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Buyers who opt to float presume that the interest rates will dip 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 lower your rate
Usually you can decide to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at closing. If you're undecided on whether or not purchasing points is the best option for you, click here to use our points calculator.
4 – Compile your paperwork
Getting a loan requires lots of paperwork, so you should take some time to get your documents together. Click here to see general questions you'll have to answer on a loan app.
