Securing financing is just one part of a home purchase. Tim Odey is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Call me today at (563) 823-6148 if your needs include a professional REALTOR® experienced at the business side of buying and selling.
1 – Make a list of questions about your loan program Make sure to bring a list of questions if you find that you do not perfectly understand the ins and outs of the various programs. Oftentimes, it can be hard to know the characteristics of both fixed and adjustable rate mortgages. One of my lenders or I can help you understand the advantages and disadvantages of both. 2 – Decide when you want to lock When you lock in the interest rate, it denotes that your mortgage lender guarantees the mortgage interest rates for the loan – most often at the time the loan application is presented. By floating the rate, you can lock the rate anytime between application and at the time of closing. Buyers who elect to float presume the interest rates will dip in the near future. 3 – Decide if you want to pay additional points to reduce your rateNormally you can decide to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. 4 – Gather your paperworkObtaining a mortgage loan requires a lot of paperwork, so you should take some time to get your documentation together. |
