Getting your mortgage is just one aspect of getting into a new home. Better Homes & Gardens Mason-McDuffie Real Estate is seasoned at helping new and experienced in all areas of real estate. Call us today at 916-622-0363 if your needs include a professional REALTOR® experienced at the business side of buying and selling.
Are you going to finance your new home?
When purchasing a home, applying for the mortgage loan is very demanding for a lot of people, but it doesn't have to be.
I have close business relationships with a lot of lenders in Roseville, and they've helped me realize a few things that can make the process of applying for a loan pretty simple.
1 – Compose a list of questions about your loan program
If you do not perfectly understand the pros and cons of all the different financing options, make sure to bring a list of questions.
Oftentimes, it can be hard to know the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts can assist you with understanding the advantages and disadvantages of each one.
2 – Decide when you want to lock
Locking in the interest rate designates that the mortgage lender guarantees the mortgage interest rates for the loan – ordinarily at the time the loan application is sent in.
By floating the rate, you can lock the rate at any time between application and the issuing of closing documents. Those who opt 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 – Decide if you want to pay additional points to decrease your rate
Oftentimes you can choose to pay additional points to lower the rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing.
Click here to use our points calculator. It will assist you with determining if buying points is right for you.
4 – Compile your paperwork
Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to get a feel for typical questions you'll have to answer on a loan app.
Today's Rates:
Mtg Loan
Rate
APR
30-yr Fixed
3.87%
4%
15-yr Fixed
3.14%
3.31%
1-yr Adj
2.76%
3.42%
* national averages
Mortgage Calculator:
Sales Price:
$
Down:
%
Interest Rate:
%
Term:
yrs
Monthly payment:
$
Lyon Real Estate 851 Pleasant Grove Blvd., #150 Roseville, CA 95678
