Getting your loan locked down is just one aspect of getting into a new home. RE/MAX Select Properties is seasoned at aiding 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 real estate.

Do you want to finance your new home?

Feeling lots of anxiety over applying for a mortgage? You don't have to be. We have excellent relationships with several lending companies in Harmony, and they've helped us recognize a few things that make the loan application process very manageable.

1 – Create a list of questions about your loan program

If you find that you don't thoroughly understand the advantages and disadvantages of the various loan programs, be sure to bring a list of questions with you. One of our lenders or staff will be able to assist you in understanding the advantages and disadvantages of each one, because it can be hard to know the differences between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in the interest rate, a mortgage lender is keeping to the mortgage interest rates for the loan – typically 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 think the interest rates will dip in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to lower your rate

When you opt to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will assist you in deciding if buying points is right for you.

4 – Gather your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to see typical questions you'll have to answer on a loan app.

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