Securing financing is just one part of a real estate transaction. Stoltz Realty Associates is seasoned at helping both new and experienced buyers alike in all areas of real estate. Call me today at (814) 371-2100 if your needs include a real estate pro experienced at the business side of real estate.
Applying for a loan in DuBois
When purchasing a home, the loan application is demanding for many people, but it doesn't have to be. I have close relationships with various mortgage lenders in DuBois, and they've helped me learn some things that can make the loan application process pretty simple.
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Be sure you have a list of questions if you don't fully grasp the pros and cons of the different programs.
One of my lender contacts or I will be able to help you understand the advantages and disadvantages of each program, because it is hard to understand the distinctions between both fixed and adjustable rate mortgages.
When you lock in an interest rate, it denotes that a lender keeps to the mortgage interest rates for the loan – normally at the time the loan application is presented.
By floating the rate, you can lock the rate anytime between the loan application day and at the time of closing. Those who choose to float presume that the interest rates will drop in the near future. Click here to see the outlook for the next 90 days of interest rates.
When you decide to pay additional points to lower the rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Each point is 1 percent of the mortgage loan.
To decide if you should buy points, click here to use my points calculator. Getting a mortgage loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to preview general questions you'll have to answer on a loan app. |