Getting your loan locked down is just one aspect of a home purchase. Hines & Associates Realty is experienced at aiding both new and experienced buyers alike in all areas of real estate. Call us today at 704-990-2000 if your needs include a professional REALTOR® ready for the business side of real estate.
Applying for your home loan in Charlotte
When buying a home, applying for a loan is troublesome for a lot of people, but it doesn't have to be. We have close professional relationships with a lot of lending companies in the Charlotte area, and they've helped us realize some things that make the process of applying for a loan a snap.
1 – Compile a list of questions regarding your loan program
If you don't perfectly realize the advantages and disadvantages of all the different loan programs, make sure you bring a list of questions. It can be a challenge to know the distinctions between fixed and adjustable rate mortgages. We or one of our lenders can help you understand the advantages and disadvantages of both programs.
2 – Determine when to lock
By locking in a rate, the lender is guaranteeing 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 the loan and issuance of closing documents. Those who elect to float think the 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
Generally you can choose to pay additional points to lower the rate of your mortgage 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 help you decide if buying points is the best option for you.
4 – Gather your paperwork
Obtaining a mortgage loan requires lots of paperwork, so you should take some time to get your documents together. Click here to preview normal information that goes on a loan application.
