Securing financing is just one part of a real estate transaction. Border Real Estate is experienced at aiding both new and experienced buyers alike in all areas of real estate. Call me today at 204-324-8348 if your needs include a professional REALTOR® experienced at the business side of buying and selling.
Do you wish to finance a new home? Border Real Estate can help.
For a lot of people, securing financing is one of the more troublesome elements of purchasing a house. But it doesn't have to be.
I've got great connections to several lending companies in Altona, and they've helped me learn some things that make the loan application process very easy.
1 – Put together a list of questions about your loan program
Be sure you bring a list of questions if you do not entirely grasp the pros and cons of all the various loan programs.
One of my lenders or I will be able to assist you with understanding the advantages and disadvantages of each one, because it's a challenge to know the characteristics of both fixed and adjustable rate mortgages.
2 – Decide when you want to lock
By locking in the interest rate, your mortgage lender is holding to the mortgage interest rates for the loan – most often at the time the loan application is sent in.
By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Those who opt to float believe interest rates will decline 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 rate
If you elect to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at the time of closing. Every point is 1 percent of the loan.
To decide if you should buy points, click here to use my points calculator.
4 – Gather your paperwork
Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to see typical information that goes on a loan application.
Looking to Buy?
Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.