Securing financing is just one part of a home purchase. Divine Realty is experienced at helping both new and experienced buyers alike in all areas of real estate. Call us today at 5097832753 if your needs include a real estate pro experienced at the business side of real estate.
Thinking of financing your home in Kennewick? Divine Realty can help.
When purchasing a home, applying for financing is very distressing for many people, but it doesn't have to be. Being connected with several lenders in the Kennewick area has helped me learn some things that can make the loan application process much easier.
1 – Organize a list of questions about your loan program
Be sure to have a list of questions if you do not completely understand the ins and outs of the different loan programs. It is a challenge to understand the differences between both fixed and adjustable rate mortgages. I or one of my lenders will assist you in understanding the advantages and disadvantages of both.
2 – Decide when to lock
Locking in an interest rate denotes that the mortgage lender guarantees the mortgage interest rates for the loan – commonly at the time the loan application is received. By floating the rate, you can lock the rate at any time between application and the issuing of closing documents. Buyers who elect to float conclude that interest rates will drop 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
When you elect to pay additional points to lower the rate of your mortgage loan, you'll pay for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. It will help you determine if buying points is right for you.
4 – Gather your paperwork
Acquiring a loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to get a feel for general questions you'll have to answer on a loan app.
7105 West Hood Place Suite B201 Kennewick, WA 99336 Phone: Fax:
