Getting your loan locked down is just one aspect of a home purchase. One Stop Multiservice Inc is seasoned 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 real estate.

Are you financing your new home in WOODSIDE?

For most people, securing financing is one of the more troublesome aspects of purchasing a house. But it doesn't have to be. I have excellent relationships with various lending companies in WOODSIDE, and they've helped me recognize some things that will make the loan application process a breeze.

1 – Compile a list of questions regarding your loan program

If you don't perfectly understand the pros and cons of the various loan programs, make sure to have a list of questions with you. Oftentimes, it can be a challenge understanding the characteristics of fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you in understanding the advantages and disadvantages of each one.

2 – Determine when to lock

When you lock in the rate, it signifies that your mortgage lender keeps to 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 the day you apply for the loan and the issuing of closing documents. Buyers who opt to float conclude that interest rates will fall 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 reduce your rate

Oftentimes you can opt to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. This tool will help you determine if buying points is right for you.

4 – Bring your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get your documents together. Click here to see typical information that goes on a loan application.