Applying for a new home loan in Castle Rock
For a lot of people, applying for a loan can be one of the more troublesome aspects of buying a home. But it doesn't have to be.
I have excellent relationships with many lending companies in Castle Rock, and they've helped me learn a few things that can make the process of applying for a loan pretty simple.
1 – Compose a list of questions regarding your loan program
If you do not perfectly realize the ins and outs of the different programs, make sure to have a list of questions.
At times, it can be hard to know the characteristics of both fixed and adjustable rate mortgages. One of my lenders or I can help you understand the advantages and disadvantages of each.
2 – Determine when to lock
By locking in the rate, a lender is guaranteeing the interest rates for the loan – generally at the time the loan application is submitted.
By floating the rate, you can lock the rate at any time between application and the issuing of closing documents. Those who decide to float believe that the interest rates will fall in the near future. Click here to see the outlook for the next 90 days of interest rates.
3 – Bring your paperwork
Getting a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to get a feel for common information that goes on a loan application.
Getting your mortgage is just one part of a home purchase. Liz Willoughby, RE/MAX Alliance is experienced at aiding both new and experienced buyers alike in all areas of real estate. I would be happy to help, call me at 303-921-0655 or email, firstname.lastname@example.org.