Are you going to finance your new home?

When purchasing a home, the mortgage loan application is very troublesome for many people, but it doesn't have to be. I have excellent relationships with several lending companies in the Glendale area, and they've helped me realize some things that make the loan application process very easy.

1 – Organize a list of questions regarding your loan program

If you don't fully understand the pros and cons of the different financing options, make sure to have a list of questions. At times, it can be hard to understand the differences between both fixed and adjustable rate mortgages. One of my lender contacts or I will assist you with understanding the advantages and disadvantages of both.

2 – Decide when to lock

Locking in a rate denotes that your mortgage lender holds 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 anytime between the day you apply for your loan and issuance of closing documents. Buyers who choose to float think that interest rates will dip in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Bring your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to preview typical questions you'll have to answer on a loan app.

Have More Questions?

Securing financing is just one aspect of getting into a new home. Arizona Premier Realty Homes & Land LLC. is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact me if your needs include a real estate pro ready for the business side of real estate.