Thinking of financing a new home?

Applying for a mortgage loan can be one of the most stressful parts of buying a house. But it doesn't have to be. Being connected to many lending companies in Mount Dora has helped us understand some things that can make the loan application process a snap.

1 – Compile a list of questions regarding your loan program

If you find that you don't totally understand the ins and outs of the various programs, be sure you have a list of questions. It's hard to know the differences between fixed and adjustable rate mortgages. One of our lender contacts or associates will help you understand the advantages and disadvantages of each program.

2 – Decide when you want to lock

By locking in a rate, your mortgage lender is committing to the mortgage interest rates for the loan – often at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for the loan and the issuing of closing documents. Buyers who choose to float presume the interest rates will dip in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Compile your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get your documents together. Click here to get a feel for common questions you'll have to answer on a loan app.

Need More Help?

Securing financing is just one part of getting into a new home. JANET & TOM SHATZER DAVE LOWE REALTY is experienced at aiding new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.

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