Are you financing a home? Provident Realty Group can help.
Applying for a loan can be one of the most demanding aspects of buying a house, but it doesn't have to be.
I'm pretty close with various lending companies in the Dublin area, and they've helped me learn a few things that will make the loan application process a breeze.
1 – Assemble a list of questions about your loan program
If you find that you do not perfectly comprehend the ins and outs of all the different programs, be sure to have a list of questions with you.
I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each one, because it can be a challenge to understand the distinctions between both fixed and adjustable rate mortgages.
2 – Decide when you want to lock
When you lock in the rate, the lender is guaranteed to hold to the interest rates for the loan – often at the time the loan application is received.
By floating the rate, you can lock the rate anytime between the day you apply for your loan and closing. Those who elect to float presume 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 decrease your rate
Oftentimes you can opt to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing.
Click here to use our points calculator. It will help you determine if purchasing points is right for you.
4 – Bring your paperwork
Obtaining a loan requires lots of paperwork, so you should take some time to get your documentation together. Click here for a list of general loan documentation.