Getting your loan locked down is just one part of a home purchase. Coldwell Banker Residential Brokerage is experienced at aiding new and experienced in all areas of real estate.
Contact me if your needs include a professional REALTOR
® ready for the business side of buying and selling.
Are you looking to finance your new home in SUFFIELD?
When purchasing a home, the mortgage loan application is stressful for many people, but it doesn't have to be.
Being connected to several lending companies in SUFFIELD has helped me recognize a lot of the things that make the process of applying for a loan easy.
1 – Put together a list of questions regarding your loan program
Be sure you have a list of questions if you find that you don't totally grasp the ins and outs of all the various loan programs.
One of my lender contacts or I will assist you with understanding the advantages and disadvantages of each one, because it's a challenge to understand the distinctions between fixed and adjustable rate mortgages.
2 – Decide when you want to lock
When you lock in the rate, it designates that a mortgage lender commits to the interest rates for the loan – generally at the time the loan application is submitted.
By floating the rate, you can lock the rate at any time between application and at the time of closing. Those who choose to float believe that interest rates will plunge in the near future. Click here to see the outlook for the next 90 days of interest rates.
3 – Gather your paperwork
Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to see common information that goes on a loan application.