Getting loan approval is an important step to purchasing a home. Revolution Realty can put you in contact with a professional loan officer. Call us today at (504) 309-7224 if your needs include a professional REALTOR ready to assist you for the business side of buying.
Thinking of financing your home? Realty Revolution can help.
Are you stressed out about applying for a loan? You shouldn’t be. We have close professional relationships with some reputable mortgage lenders in the New Orleans Metropolitan / Mississippi Gulf Coast Region, and they can help you realize that the process of applying for a loan can be easy.
1. List all of the questions that you may have regarding loan programs
If you do not understand the ins and outs of the different loans programs, be sure to have a list of questions with you. Understanding the characteristics of both fixed and adjustable rate mortgages can be hard. One of our lender contacts or associates can explain the advantages and disadvantages of each loan program.
2. Lock in a rate
When you lock in a rate, the mortgage lender is committed to the mortgage interest rates for the loan – usually at the time the loan application is submitted. If you choose to float the rate, you can lock the rate anytime between the day of loan application and issuance of closing documents. Buyers who choose to float believe the interest rates witll drop in the near future. Click here (http://forecasts.org/fma.htm) to see the outlook for the next 90 days.
3. You may elect to pay additional points to decrease your interest rate
Paying additional points can lower the rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. If you are undecided as to whether or not to buy additional points, click here (/MortgagePointsCalc) to use the points calculator that we have provided.
4. Organize your paperwork
Applying and obtaining a mortgage loan requires lots of paperwork. Spend some time getting all your documentation together.
