Home financing tips for Escondido buyers 7607453366
Securing financing is just one part of a real estate transaction. Hanson Real Estate, Inc is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact me if your needs include a professional REALTOR® ready for the business side of real estate.

Applying for a loan

When buying a home, the loan application is exasperating for many people, but it doesn't have to be. I've got great connections to several lenders in the Escondido area, and they've helped me learn a few things that make the process of applying for a loan a breeze.

1 – Compose a list of questions about your loan program

If you don't entirely realize the pros and cons of all the different loan programs, be sure to have a list of questions. It can be hard to understand the distinctions between fixed and adjustable rate mortgages. One of my lender contacts or I will be able to assist you in understanding the advantages and disadvantages of each one.

2 – Decide when to lock

When you lock in an interest rate, your mortgage lender is guaranteed to hold to the interest rates for the loan – generally at the time the loan application is received. By floating the rate, you can lock the rate at any time between application and at the time of closing. Those who opt to float think the interest rates will dip 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 reduce your rate

Normally you can decide 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 the time of closing. To decide if you should buy points, click here to use my points calculator.

4 – Gather your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to get a feel for general information that goes on a loan application.

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