Securing financing is just one part of a real estate transaction. Century 21 Almar & Associates is experienced at helping new and experienced in all areas of real estate. Call me today at 9418751000 if your needs include a professional REALTOR® experienced at the business side of buying and selling.
Are you looking to finance your new home?
For a lot of people, securing a mortgage loan can be one of the more stressful elements of purchasing a home. But it doesn't have to be.
Being close with some lenders in North Port has helped me recognize a few things that make the process of applying for a loan much easier.
1 – Put together a list of questions about your loan program
Make sure to have a list of questions if you find that you don't completely comprehend the ins and outs of all the different programs.
Oftentimes, it can be a challenge to know the distinctions between fixed and adjustable rate mortgages. One of my lenders or I will be able to assist you with understanding the advantages and disadvantages of both.
2 – Decide when to lock
When you lock in a rate, it means that your mortgage lender keeps to the interest rates for the loan – normally at the time the loan application is received.
By floating the rate, you can lock the rate at any time between the loan application day and closing. Buyers who elect 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 – Compile your paperwork
Getting a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to get a feel for common questions you'll have to answer on a loan app.