Applying for a new home loan in Dublin with help from Provident Realty Group
Applying for a loan can be one of the most exasperating elements of purchasing a house, but it doesn't have to be.
I'm close to a lot of mortgage lenders in the Dublin area, and they've helped me recognize a few things that will make the process of applying for a loan effortless.
1 – Create a list of questions regarding your loan program
If you find that you do not completely realize the pros and cons of the various programs, be sure to have a list of questions.
I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of each one, because it is hard to understand the distinctions between both fixed and adjustable rate mortgages.
2 – Determine when you want to lock
By locking in the rate, a mortgage lender is committing to the interest rates for the loan – commonly at the time the loan application is submitted.
By floating the rate, you can lock the rate at any time between the day of your loan application and the issuing of closing documents. Buyers who prefer to float conclude the interest rates will drop 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 decrease your interest rate
Typically you can elect to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing.
To determine if you should buy points, click here to use our points calculator.
4 – Bring your paperwork
Acquiring a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to get a list of typical loan documentation.