Are you financing your new home in Dublin?
For a lot of people, applying for a mortgage loan can be one of the most stressful parts of buying a home, but it doesn't have to be.
I have a close relationship with a lot of mortgage lenders in Dublin, and they've helped me recognize a few things that can make the loan application process a snap.
1 – Assemble a list of questions about your loan program
If you find that you do not thoroughly realize the advantages and disadvantages of the different loan programs, make sure to bring a list of questions with you.
I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of each program, because it's a challenge to know the characteristics of fixed and adjustable rate mortgages.
2 – Determine when you want to lock
When you lock in an interest rate, a lender is sure to hold to the interest rates for the loan – often at the time the loan application is sent in.
By floating the rate, you can lock the rate at any time between the day of your loan application and closing. Buyers who prefer to float believe that the interest rates will decline 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
If you choose to pay additional points to lower the interest rate of your loan, you will pay for them in cash at closing. Every point is 1 percent of the mortgage loan.
Click here to use our points calculator. It will assist you in deciding if purchasing points is the best option for you.
4 – Compile your paperwork
Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here for a list of common loan documentation.