Getting your mortgage is just one part of a home purchase. RE/MAX Properties is seasoned at helping new and experienced in all areas of real estate. Call us today at (603) 589-8800 if your needs include a professional REALTOR® ready for the business side of real estate.
Are you looking to finance your home in Nashua? RE/MAX Properties can help.
When buying a home, applying for the loan is troublesome for a lot of people, but it doesn't have to be.
Being connected to various lenders in Nashua has helped me understand some things that make the process of applying for a loan a snap.
1 – Make a list of questions about your loan program
Make sure you have a list of questions if you don't completely understand the ins and outs of the various programs.
I or one of my lenders will be able to help you understand the advantages and disadvantages of each program, because it can be a challenge to understand the distinctions between both fixed and adjustable rate mortgages.
2 – Determine when you want to lock
Locking in an interest rate means that a lender keeps to the mortgage interest rates for the loan – commonly at the time the loan application is sent in.
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 think the 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
Normally you can elect to pay additional points to lower the interest rate of your 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 determine if buying points is right for you.
4 – Bring your paperwork
Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here to see general questions you'll have to answer on a loan app.
