Issac W. Harper Real Estate Broker/Realtor© can assist you in applying for a loan in Austin.
For most people, applying for the mortgage loan can be one of the more stressful aspects of buying a home, but it doesn't have to be.
I have a close relationship with a lot of lenders in Austin, and they've helped me learn a few things that make the loan application process pretty simple.
1 – Put together a list of questions regarding your loan program
If you find that you don't entirely comprehend the ins and outs of the various loan programs, make sure to bring a list of questions with you.
It is a challenge understanding the differences between both fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of both.
2 – Decide when you want to lock
Locking in the rate signifies that the mortgage lender keeps to the mortgage interest rates for the loan – often at the time the loan application is presented.
By floating the rate, you can lock the rate at any time between application and closing. Buyers who prefer to float presume that interest rates will fall 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 lower your interest rate
When you opt to pay additional points to lower the rate of your loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the loan.
To decide if you should buy points, click here to use our points calculator.
4 – Bring your paperwork
Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here for a list of general loan documentation.