Securing financing is just one aspect of a real estate transaction. Hanson Real Estate, Inc is experienced at assisting new and experienced in all areas of real estate. Contact me if your needs include a professional REALTOR® ready for the business side of real estate.
Let Hanson Real Estate, Inc assist you in applying for a home loan in Escondido.
Stressed out about getting financing for a home purchase? You don't have to be.
I have close professional relationships with many lenders in the Escondido area, and they've helped me learn some things that will make the loan application process much easier.
1 – Assemble a list of questions regarding your loan program
Make sure you bring a list of questions if you do not fully grasp the advantages and disadvantages of the various loan programs.
One of my lender contacts or I will be able to assist you in understanding the advantages and disadvantages of each program, because it is hard to know the distinctions between both fixed and adjustable rate mortgages.
2 – Decide when to lock
By locking in the interest rate, a mortgage lender is committing to the 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 loan application day and issuance of closing documents. Buyers who prefer to float think interest rates will plunge 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 lower your interest rate
If you decide to pay additional points to lower the interest rate of your loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the mortgage loan.
To determine if purchasing points is right for you, click here to use my points calculator.
4 – Bring your paperwork
Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to preview common questions you'll have to answer on a loan app.