Securing financing is just one aspect of getting into a new home. Hanson Real Estate, Inc is seasoned at assisting new and experienced in all areas of real estate. Call me today at 760-745-3366 if your needs include a professional REALTOR® ready for the business side of real estate.
Let Hanson Real Estate, Inc help you with financing a new home.
Stressed out about getting financing for a home purchase? You don't have to be.
I have close relationships with some reputable mortgage lenders in the Escondido area, and they've helped me learn some things that can make the loan application process a snap.
1 – Compose a list of questions regarding your loan program
If you don't entirely understand the ins and outs of the different financing options, be sure you bring a list of questions with you.
At times, it can be hard to know the differences between fixed and adjustable rate mortgages. One of my lenders or I can assist you with understanding the advantages and disadvantages of each one.
2 – Decide when to lock
When you lock in the interest rate, your lender is sure to keep to the interest rates for the loan – ordinarily at the time the loan application is received.
By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Those who elect to float believe 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 reduce your interest rate
When you opt to pay additional points to lower the rate of your mortgage loan, you'll pay for them in cash at the time of closing. Every point is 1 percent of the loan.
Click here to use my points calculator. This tool will help you decide if buying points is right for you.
4 – Bring your paperwork
Getting a loan requires lots of paperwork, so you should take some time to get your documents together. Click here to see general questions you'll have to answer on a loan app.