Securing financing is just one part of getting into a new home. DPR Realty LLC is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® experienced at the business side of real estate.
Are you thinking about financing your home in Glendale?
Securing a loan is one of the more demanding parts of buying a house. But it doesn't have to be.
I have close relationships with several lending companies in Glendale, and they've helped me learn some things that can make the loan application process very easy.
1 – Make a list of questions about your loan program
If you do not thoroughly realize the advantages and disadvantages of the various financing options, be sure to bring a list of questions.
I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each one, because it's a challenge to understand the distinctions between both fixed and adjustable rate mortgages.
2 – Decide when to lock
Locking in the interest rate means that a mortgage lender guarantees the 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 the day of your loan application and closing. Those who choose to float believe the 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 reduce your rate
When you decide to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan.
Click here to use our points calculator. This tool will assist you with determining if purchasing points is the best option for you.
4 – Bring your paperwork
Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to preview common information that goes on a loan application.
DPR Realty LLC 7121 W Bell Rd Ste 100 Glendale, AZ 85308
