Do you wish to finance your home in Dublin? Provident Realty Group can help.
Applying for mortgage financing can be one of the most distressing elements of purchasing a house, but it doesn't have to be.
I'm pretty connected to several lenders in the Dublin area, and they've helped me understand a few things that will make the process of applying for a loan uncomplicated.
1 – Create a list of questions regarding your loan program
If you find that you don't perfectly understand the ins and outs of the different programs, be sure you have a list of questions with you.
At times, it can be hard to understand the characteristics of both fixed and adjustable rate mortgages. I or one of my lenders can assist you with understanding the advantages and disadvantages of each program.
2 – Determine when you want to lock
Locking in the interest rate means that the lender commits 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 application and issuance of closing documents. Those who choose to float think that interest rates will fall 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
When you elect to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at the time of closing. Each point is 1 percent of the mortgage loan.
If you're undecided on whether or not buying points is the best option for you, click here to use our points calculator.
4 – Compile your paperwork
Acquiring a loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to get a list of normal loan documentation.