Getting your mortgage is just one aspect of a real estate transaction. Peach Realty, Inc. is seasoned at assisting new and experienced in all areas of real estate. Call us today at (706) 517-4333 if your needs include a professional REALTOR® ready for the business side of real estate.
Are you going to finance your new home in Chatsworth?
Stressed out about applying for a mortgage? You don't have to be.
I have excellent relationships with several lending companies in Chatsworth, and they've helped me learn a few things that can make the process of applying for a loan very manageable.
1 – Organize a list of questions regarding your loan program
Make sure to bring a list of questions with you if you find that you do not perfectly understand the advantages and disadvantages of all the different loan programs.
It's a challenge to understand the differences between fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of each program.
2 – Decide when you want to lock
Locking in denotes that a mortgage lender keeps to the interest rates for the loan – usually at the time the loan application is presented.
By floating the rate, you can lock the rate at any time between the day you apply for your loan and closing. Those who choose to float think the interest rates will plunge 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
Generally you can choose to pay additional points to lower the rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing.
Click here to use our points calculator. This tool will help you determine if purchasing points is the best option for you.
4 – Compile your paperwork
Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to preview typical information that goes on a loan application.
