Securing financing is just one part of getting into a new home. D'Addio Realty is seasoned at assisting new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.
Are you going to finance a home? D'Addio Realty can help.
Stressed out about applying for a mortgage? You don't have to be.
I have excellent relationships with several lending companies in Delray Beach, and they've helped me recognize some things that will make the process of applying for a loan pretty simple.
1 – Compile a list of questions about your loan program
Be sure you bring a list of questions with you if you do not entirely comprehend the advantages and disadvantages of the various loan programs.
I or one of my lender contacts can help you understand the advantages and disadvantages of both programs, because it is a challenge to know the characteristics of fixed and adjustable rate mortgages.
2 – Decide when to lock
When you lock in the interest rate, the lender is guaranteed to commit to the interest rates for the loan – typically at the time the loan application is sent in.
By floating the rate, you can lock the rate anytime between application and issuance of closing documents. Buyers who prefer to float think that 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 decrease your interest rate
Generally you can opt 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 the time of closing.
Click here to use our points calculator. This tool will help you decide if buying points is the best option for you.
4 – Bring your paperwork
Acquiring a mortgage loan requires a lot of paperwork, so you should take some time to get all your documents together. Click here to see typical information that goes on a loan application.
