Securing financing is just one aspect of getting into a new home. CHOICE REALTY Carolmac & Co. Carolmac & Co., Inc. is seasoned at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.

Are you looking to finance a new home?

Stressed out about getting financing for a home purchase? You don't have to be. Being connected to several lenders in the Brandon area has helped me understand a few things that will make the loan application process very easy.

1 – Compile a list of questions about your loan program

Make sure to bring a list of questions with you if you do not fully comprehend the pros and cons of all the various loan programs.It can be a challenge understanding the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts can assist you in understanding the advantages and disadvantages of both programs.

2 – Decide when you want to lock

When you lock in the rate, the lender is sure to commit to the interest rates for the loan – generally at the time the loan application is presented.By floating the rate, you can lock the rate anytime between the loan application day and issuance of closing documents. Buyers who choose to float believe that interest rates will drop 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 interest rate

Normally you can opt to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at the time of closing.Click here to use our points calculator. It will assist you in determining if purchasing points is the best option for you.

4 – Compile your paperwork

Acquiring a loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to see normal information that goes on a loan application.
onChecklist">here to see normal information that goes on a loan application.