Do you wish to finance your new home in Jensen Beach? Welcome Home Realty International can help.
Feeling lots of anxiety over getting financing for a home purchase? You don't have to be. Being close to various lenders in Jensen Beach has helped me recognize a few things that make the loan application process much easier.
1 – Assemble a list of questions regarding your loan program
Be sure to have a list of questions with you if you do not completely grasp the advantages and disadvantages of the different programs. It is often a challenge to understand the differences between fixed and adjustable rate mortgages. One of my trusted lenders or I will assist you with understanding the advantages and disadvantages of each one.
2 – Determine when to lock
When you lock in the rate, it signifies that your mortgage lender guarantees the mortgage interest rates for the loan – commonly at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the loan application day and issuance of closing documents. Those who elect to float believe that the interest rates will dip 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 lower your rate
Typically you can elect to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at closing. Click here to use my points calculator. It will help you decide if buying points is right for you.
4 – Gather your paperwork
Getting a mortgage loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to see common questions you'll have to answer on a loan app.
