Securing financing is just one part of a home purchase. American Dream Financial and Real Estate is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 9163591760 if your needs include a professional REALTOR® ready for the business side of real estate.
Thinking about financing your home? American Dream Financial and Real Estate can help.
Feeling lots of anxiety over applying for a mortgage? You don't have to be.
I've got great connections to a lot of lenders in Lincoln, and they've helped me understand a few things that make the process of applying for a loan pretty simple.
1 – Make a list of questions regarding your loan program
If you do not completely understand the advantages and disadvantages of all the various 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 lender contacts will help you understand the advantages and disadvantages of both.
2 – Determine when to lock
When you lock in an interest rate, it denotes that your mortgage lender guarantees the interest rates for the loan – ordinarily at the time the loan application is received.
By floating the rate, you can lock the rate anytime between the loan application day and at the time of closing. Those who prefer to float conclude the interest rates will plunge 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 rate
Normally you can decide to pay additional points to lower the interest rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at the time of closing.
To decide if purchasing points is the best option for you, click here to use our points calculator.
4 – Compile your paperwork
Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to see common information that goes on a loan application.
