Getting your loan locked down is just one aspect of getting into a new home. HomeSmart Fine Homes & Land is experienced at helping both new and experienced buyers alike in all areas of real estate. Call us today at 928-925-1087 if your needs include a professional REALTOR® ready for the business side of buying and selling.
HomeSmart Fine Homes & Land can help you finance your home in Prescott.
Feeling lots of anxiety over applying for a mortgage? You don't have to be.
I have excellent relationships with several lenders in Prescott, and they've helped me understand some things that will make the loan application process much easier.
1 – Make a list of questions about your loan program
If you find that you don't completely realize the ins and outs of all the various programs, make sure to bring a list of questions with you.
I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each program, because it can be hard to know the distinctions between both fixed and adjustable rate mortgages.
2 – Determine when you want to lock
When you lock in the interest rate, it means that your lender keeps to the mortgage interest rates for the loan – typically 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. Those who opt to float think the interest rates will plunge 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 lower your interest rate
Generally you can decide to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the mortgage 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 the best option 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 common information that goes on a loan application.
HomeSmart Fine Homes & Land 140 N Montezuma St. Ste 201 Prescott, AZ 86301
