
	Securing financing is just one aspect of a real estate transaction. Century 21 Greengarden Real Estate is experienced at helping new and experienced in all areas of real estate. Call us today at 2035223100 if your needs include a professional REALTOR^® experienced at the business side of real estate.

Are you thinking about financing a home?

Stressed out about getting financing for a home purchase? You don't have to be. Being close to various lending companies in Monroe has helped me recognize some things that make the loan application process easy.

1 – Organize a list of questions regarding your loan program

Be sure to have a list of questions with you if you don't fully understand the pros and cons of the different programs. It is often a challenge to know the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts will be able to help you understand the advantages and disadvantages of each.

2 – Decide when you want to lock

When you lock in an interest rate, a mortgage lender is guaranteed to hold to the mortgage interest rates for the loan – commonly at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between application and at the time of closing. Buyers who prefer to float think that the interest rates will fall 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 reduce your interest rate

Oftentimes you can decide to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. To decide if buying points is right for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to preview common questions you'll have to answer on a loan app.