Securing financing is just one part of getting into a new home. REALiTEAM Real Estate Group is experienced at aiding both new and experienced buyers alike in all areas of real estate. Contact us
if your needs include a real estate pro experienced at the business side of buying and selling.
Feeling lots of anxiety over getting financing for a home purchase? You don't have to be.
We've got great connections to several lending companies in Milwaukee, and they've helped us learn some things that make the process of applying for a loan a snap.
1 – Compose a list of questions regarding your loan program
Be sure to have a list of questions with you if you do not totally comprehend the advantages and disadvantages of all the different programs.
It can be a challenge to understand the characteristics of both fixed and adjustable rate mortgages. One of our lenders or associates will assist you with understanding the advantages and disadvantages of both.
2 – Decide when to lock
By locking in a rate, your mortgage lender is committing to the 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 your loan and at the time of closing. Buyers who decide to float presume that the interest rates will decline 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 elect to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at closing. Each point is 1 percent of the mortgage loan.
Click here to use our points calculator. This tool will assist you in deciding if buying points is the best option for you.
4 – Bring your paperwork
Acquiring a loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to get a feel for common questions you'll have to answer on a loan app.