Getting your loan locked down is just one aspect of a real estate transaction. Westline Real Estate is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Call us today at 714-726-5429 if your needs include a professional REALTOR® ready for the business side of real estate.
Are you going to finance your home in Huntington Beach?
Stressed out about applying for a mortgage? You don't have to be. I've got great connections to a lot of lenders in the Huntington Beach area, and they've helped me learn some things that make the loan application process pretty simple.
1 – Put together a list of questions about your loan program
If you find that you do not completely understand the ins and outs of all the various programs, be sure you bring a list of questions with you. It can be hard to know the differences between fixed and adjustable rate mortgages. I or one of my lenders can assist you with understanding the advantages and disadvantages of both.
2 – Decide when to lock
Locking in the rate designates that a lender guarantees the interest rates for the loan – often at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Buyers who prefer to float think that interest rates will decline 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 decrease your rate
If you elect to pay additional points to lower the rate of your mortgage loan, you'll pay for them in cash at closing. Each point is 1 percent of the mortgage loan. To determine if you should purchase points, click here to use our points calculator.
4 – Compile your paperwork
Obtaining a loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to see general questions you'll have to answer on a loan app.
