Securing financing is just one part of getting into a new home. Engler Boyles Properties is experienced at assisting new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.
Engler Boyles Properties can help you finance a new home.
Stressed out about applying for a mortgage? You don't have to be.
I've got great connections to various lenders in Winston-Salem, and they've helped me realize some things that make the process of applying for a loan easy.
1 – Compose a list of questions about your loan program
Make sure to bring a list of questions if you don't fully comprehend the advantages and disadvantages of all the various programs.
At times, it can be hard to understand the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you in understanding the advantages and disadvantages of both programs.
2 – Decide when to lock
When you lock in a rate, a lender is sure to keep to the mortgage interest rates for the loan – often 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 that interest rates will drop 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 lower your interest rate
If you opt to pay additional points to lower the rate of your mortgage loan, you will pay for them in cash at the time of closing. Each point is 1 percent of the mortgage loan.
If you're undecided as to whether or not buying points is right for you, click here to use our points calculator.
4 – Compile 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 preview general questions you'll have to answer on a loan app.
