Applying for a new home loan in Dublin with the help of Provident Realty Group
Applying for financing can be one of the most troublesome aspects of purchasing a home for a buyer, but it doesn't have to be.
Being familiar with many lenders in the Dublin area has helped me understand a few things that make the loan application process a breeze.
1 – Create a list of questions about your loan program
Be sure you bring a list of questions with you if you find that you do not fully realize the ins and outs of the various loan programs.
It is a challenge understanding the differences between both fixed and adjustable rate mortgages. I or one of my lenders will assist you with understanding the advantages and disadvantages of each one.
2 – Decide when you want to lock
Locking in a rate indicates that your mortgage lender holds to the mortgage interest rates for the loan – ordinarily 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 at the time of closing. Those who prefer to float believe that interest rates will decline 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
Normally you can choose to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the loan and is payable in cash at closing.
To determine if buying points is right for you, click here to use our points calculator.
4 – Compile your paperwork
Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to get a list of common loan documentation.