Securing financing is just one part of getting into a new home. RE/MAX PROFESSIONALS is seasoned at assisting new and experienced in all areas of real estate. Contact Us if your needs include a real estate pro ready for the business side of buying and selling.
For most people, securing the mortgage loan is one of the more troublesome parts of purchasing a house. But it doesn't have to be. Having connections to some lenders in the Sun City West area has helped me understand a lot of the things that make the loan application process much easier.
Make sure to have a list of questions with you if you find that you do not completely grasp the ins and outs of the various programs. One of my lender contacts or I will assist you with understanding the advantages and disadvantages of both programs, because it is a challenge to understand the distinctions between fixed and adjustable rate mortgages.
When you lock in the rate, a lender is sure to keep to the interest rates for the loan – most often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the loan application day and the issuing of closing documents. Those who decide to float presume that interest rates will dip in the near future. Click here to see the outlook for the next 90 days of interest rates.
If you decide to pay additional points to lower the interest rate of your mortgage loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the loan. Contact Us to use my points calculator. This tool will help you decide if buying points is the best option for you.
Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get all your documents together. Click Contact Us to preview common questions you'll have to answer on a loan app.