G World Properties can assist you in applying for your new home loan.
A lot of people believe applying for the mortgage loan is one of the more demanding parts of buying a house, but it doesn't have to be.
Being close with some mortgage lenders in the area has helped me recognize a few things that can make the process of applying for a loan a snap.
1 – Compose a list of questions about your loan program
Be sure to bring a list of questions with you if you find that you do not totally realize the pros and cons of the different programs.
I or one of my lender contacts will be able to help you understand the advantages and disadvantages of each one, because it's hard to know the characteristics of both fixed and adjustable rate mortgages.
2 – Decide when you want to lock
When you lock in a rate, it means that the mortgage lender holds to the mortgage interest rates for the loan – generally at the time the loan application is presented.
By floating the rate, you can lock the rate at any time between the day of your loan application and closing. Those who opt to float think that interest rates will decline 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 rate
Oftentimes you can elect to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at closing.
Click here to use our points calculator. This tool will assist you in determining if purchasing points is right for you.
4 – Gather your paperwork
Getting a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here for a list of general loan documentation.