Securing financing is just one aspect of a home purchase. Pacific Coast Realty, Inc. is seasoned at helping both new and experienced buyers alike in all areas of real estate. Call us today at (714)553-9527 if your needs include a professional REALTOR® experienced at the business side of buying and selling.
Applying for a home loan with help from Pacific Coast Realty, Inc.
For many people, securing a mortgage loan is one of the more stressful aspects of buying a house. But it doesn't have to be.
I have close working relationships with many lenders in the Cypress area, and they've helped me understand some things that will make the process of applying for a loan uncomplicated.
1 – Make a list of questions regarding your loan program
If you find that you don't thoroughly comprehend the ins and outs of the different financing options, be sure to have a list of questions with you.
I or one of my trusted lenders can help you understand the advantages and disadvantages of each program, because it can be a challenge to understand the distinctions between both fixed and adjustable rate mortgages.
2 – Decide when you want to lock
By locking in the rate, the mortgage lender is keeping to the mortgage interest rates for the loan – ordinarily at the time the loan application is submitted.
By floating the rate, you can lock the rate anytime between the loan application day and at the time of closing. Those 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 – Decide if you want to pay additional points to lower your interest rate
Typically you can elect to pay additional points to lower the interest rate of your mortgage 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. It will help you decide if purchasing points is right for you.
4 – Bring your paperwork
Getting 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 normal questions you'll have to answer on a loan app.
