Getting your loan locked down is just one aspect of a home purchase. Premier Realty Group is seasoned at assisting new and experienced in all areas of real estate. Contact me if your needs include a professional REALTOR® ready for the business side of real estate.
Applying for a loan in San Antonio with the help of Premier Realty Group
For a lot of people, securing financing can be one of the most stressful parts of purchasing a home. But it doesn't have to be.
I've got great connections to a lot of lending companies in San Antonio, and they've helped me recognize a few things that make the process of applying for a loan very easy.
1 – Compose a list of questions regarding your loan program
If you don't entirely realize the advantages and disadvantages of all the different loan programs, make sure to bring a list of questions.
Oftentimes, it can be hard to know the characteristics of fixed and adjustable rate mortgages. One of my lenders or I can help you understand the advantages and disadvantages of both.
2 – Decide when you want to lock
When you lock in a rate, your lender is guaranteed to keep to the mortgage interest rates for the loan – most often at the time the loan application is submitted.
By floating the rate, you can lock the rate at any time between the day you apply for the loan and at the time of closing. Those who decide to float conclude the interest rates will drop 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
Usually you can decide 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.
If you're uncertain if purchasing points is right for you, click here to use my points calculator.
4 – Compile your paperwork
Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to preview normal questions you'll have to answer on a loan app.