Securing financing is just one aspect of a real estate transaction. Shamrock Real Estate is seasoned at aiding new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR® ready for the business side of real estate.
Thinking about financing your new home in Anaconda? Shamrock Real Estate can help.
Stressed out about getting financing for a home purchase? You don't have to be.
I have excellent relationships with several mortgage lenders in Anaconda, and they've helped me recognize some things that will make the loan application process much easier.
1 – Create a list of questions about your loan program
If you find that you do not totally comprehend the ins and outs of the different financing options, make sure you have a list of questions with you.
It's a challenge to understand the distinctions between fixed and adjustable rate mortgages. I or one of my lender contacts will be able to assist you in understanding the advantages and disadvantages of each one.
2 – Decide when you want to lock
When you lock in the rate, it denotes that a lender holds to the mortgage interest rates for the loan – most often at the time the loan application is received.
By floating the rate, you can lock the rate at any time between application and the issuing of closing documents. Buyers who elect to float believe that the interest rates will plunge 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 reduce your rate
Typically you can choose to pay additional points to lower the interest rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at the time of closing.
If you're undecided as to whether or not buying points is right for you, click here to use our points calculator.
4 – Gather your paperwork
Obtaining a loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to see normal information that goes on a loan application.