Getting your loan locked down is just one part of getting into a new home. EXIT Plan Realty is experienced at aiding new and experienced 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.
Do you wish to finance a new home? EXIT Plan Realty can help.
Feeling lots of anxiety over getting financing for a home purchase? You don't have to be.
I have excellent relationships with several lending companies in the Port Orange area, and they've helped me learn some things that will make the loan application process pretty simple.
1 – Compose a list of questions about your loan program
Be sure you bring a list of questions with you if you find that you do not thoroughly comprehend the pros and cons of the various loan programs.
It's a challenge to understand the differences between fixed and adjustable rate mortgages. I or one of my lender contacts will assist you with understanding the advantages and disadvantages of each.
2 – Determine when you want to lock
When you lock in the interest rate, a lender is sure to commit to the interest rates for the loan – usually at the time the loan application is submitted.
By floating the rate, you can lock the rate at any time between the day of your loan application and issuance of closing documents. Those who elect to float presume that interest rates will decline 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 rate
Typically you can elect to pay additional points to lower the interest rate of your 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 help you determine if buying points is right for you.
4 – Gather your paperwork
Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to get a feel for common questions you'll have to answer on a loan app.
EXIT Plan Realty 1515 Herbert St., Suite 212 Port Orange, FL 32129
