Securing financing is just one part of a home purchase. Premier Realty Group is experienced at helping both new and experienced buyers alike in all areas of real estate. Call me today at 2108707063 if your needs include a real estate pro ready for the business side of real estate.
Are you financing your home?
Applying for a mortgage loan is one of the most demanding aspects of buying a house. But it doesn't have to be.
I have excellent relationships with a lot of mortgage lenders in San Antonio, and they've helped me recognize some things that make the loan application process easy.
1 – Put together a list of questions regarding your loan program
If you do not fully comprehend the advantages and disadvantages of the various programs, make sure you bring a list of questions with you.
One of my trusted lenders or I will assist you in understanding the advantages and disadvantages of each program, because it can be hard to know the distinctions between both fixed and adjustable rate mortgages.
2 – Decide when to lock
Locking in an interest rate designates that the lender guarantees 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 issuance of closing documents. Buyers who prefer to float think 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 reduce your interest rate
Normally you can choose to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at closing.
Click here to use my points calculator. It will help you determine if buying points is the best option for you.
4 – Compile your paperwork
Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to get a feel for common information that goes on a loan application.