Securing financing is just one aspect of a home purchase. EZ Home Search Real Estate is experienced at helping new and experienced in all areas of real estate. Call me today at 508-965-5891 if your needs include a professional REALTOR® experienced at the business side of real estate.

Are you going to finance a new home?

Feeling lots of anxiety over getting financing for a home purchase? You don't have to be. I've got great connections to various mortgage lenders in the Fall River area, and they've helped me recognize a few things that will make the process of applying for a loan pretty simple.

1 – Make a list of questions about your loan program

If you don't thoroughly comprehend the pros and cons of the different financing options, make sure to bring a list of questions. It is often hard to know the differences between both fixed and adjustable rate mortgages. One of my lenders or I will be able to help you understand the advantages and disadvantages of both programs.

2 – Determine when to lock

When you lock in the rate, it indicates that your lender holds to the mortgage interest rates for the loan – normally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for your loan and closing. Buyers who choose to float believe 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 decide to pay additional points to lower the rate of your loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. To decide if you should purchase points, click here to use my points calculator.

4 – Bring your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to preview normal information that goes on a loan application.