Securing financing is just one aspect of a home purchase. Jamie Hanry is experienced at aiding both new and experienced buyers alike in all areas of real estate. Call us today at (601) 946-0039 if your needs include a professional REALTOR® ready for the business side of real estate.
Do you wish to finance your new home in Ridgeland? Jamie Hanry can help.
Securing the mortgage loan can be one of the more demanding aspects of buying a house. But it doesn't have to be.
I've got great connections to several lenders in the Ridgeland area, and they've helped me understand a few things that will make the loan application process effortless.
1 – Assemble a list of questions regarding your loan program
If you find that you do not perfectly comprehend the pros and cons of all the various loan programs, make sure you have a list of questions with you.
I or one of my lenders will be able to help you understand the advantages and disadvantages of both programs, because it's a challenge to understand the distinctions between fixed and adjustable rate mortgages.
2 – Determine when to lock
By locking in an interest rate, a lender is keeping to the interest rates for the loan – most often at the time the loan application is submitted.
By floating the rate, you can lock the rate anytime between the day you apply for your loan and issuance of closing documents. Those who decide to float conclude that the interest rates will plunge 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
If you choose to pay additional points to lower the interest rate of your loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan.
Click here to use our points calculator. It will help you decide if buying points is the best option for you.
4 – Compile your paperwork
Obtaining a mortgage loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to see normal information that goes on a loan application.
