Getting your mortgage is just one aspect of a home purchase. LDKA Group, LLC (dba: Orangehill Realty) is seasoned at assisting new and experienced in all areas of real estate. Call us today at (909) 307-1008 if your needs include a professional REALTOR® experienced at the business side of real estate.
Do you want to finance your home?
Feeling lots of anxiety over getting financing for a home purchase? You don't have to be.
Being connected with a lot of mortgage lenders in the Redlands area has helped me recognize some things that can make the loan application process very manageable.
1 – Compose a list of questions regarding your loan program
If you don't fully comprehend the pros and cons of the different financing options, be sure you bring a list of questions.
I or one of my trusted lenders can help you understand the advantages and disadvantages of each one, because it can be hard to understand the differences between fixed and adjustable rate mortgages.
2 – Decide when you want to lock
By locking in an interest rate, the mortgage lender is committing to the mortgage interest rates for the loan – generally at the time the loan application is sent in.
By floating the rate, you can lock the rate at any time between the loan application day and the issuing of closing documents. Those who choose to float believe 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 reduce your interest rate
Generally you can opt to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing.
To decide if you should buy points, click here to use our points calculator.
4 – Bring your paperwork
Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to preview common information that goes on a loan application.
