Getting your mortgage is just one aspect of a home purchase. eXp Realty Realty United, REALTORS is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 704-236-1384 if your needs include a professional REALTOR® ready for the business side of real estate.

Do you want to finance a new home?

Applying for the loan is one of the most stressful aspects of purchasing a house. But it doesn't have to be. I've got great connections to various mortgage lenders in Cornelius, and they've helped me learn some things that can make the process of applying for a loan effortless.

1 – Organize a list of questions about your loan program

Make sure to have a list of questions with you if you find that you do not totally grasp the pros and cons of all the various loan programs. It can be hard to know the distinctions between fixed and adjustable rate mortgages. I or one of my lenders will assist you in understanding the advantages and disadvantages of each one.

2 – Decide when to lock

Locking in means that the lender holds to the interest rates for the loan – ordinarily at the time the loan application is received. By floating the rate, you can lock the rate at any time between the loan application day and closing. Buyers who elect to float think that interest rates will plunge 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 reduce your interest rate

When you choose to pay additional points to lower the interest rate of your loan, you will do so by paying for them in cash at closing. Every point is 1 percent of the loan. To decide if you should purchase points, click here to use our points calculator.

4 – Bring your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to see normal information that goes on a loan application.

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