Securing financing is just one part of a home purchase. Gainco Realty is experienced at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® experienced at the business side of buying and selling.
Are you looking to finance your home?
Stressed out about applying for a mortgage? You don't have to be.
I have close professional relationships with many lenders in the Hartsville area, and they've helped me learn some things that make the loan application process a snap.
1 – Organize a list of questions regarding your loan program
If you find that you don't totally comprehend the advantages and disadvantages of all the different financing options, be sure you bring a list of questions with you.
It can be a challenge to understand the differences between both fixed and adjustable rate mortgages. I or one of my lenders can assist you with understanding the advantages and disadvantages of both programs.
2 – Determine when to lock
By locking in the rate, the mortgage lender is keeping to the interest rates for the loan – commonly at the time the loan application is submitted.
By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Buyers 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 – Decide if you want to pay additional points to lower your interest rate
Normally you can decide to pay additional points to lower the rate of your loan. Each point is 1 percent of the loan and is payable in cash at the time of closing.
Click here to use our points calculator. This tool will assist you in deciding if buying points is the best option for you.
4 – Gather your paperwork
Acquiring a loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to preview common questions you'll have to answer on a loan app.
