Getting your mortgage is just one part of a home purchase. Choice Properties, LLC is seasoned at assisting new and experienced in all areas of real estate. Call us today at 704-541-8088 Ext 14 if your needs include a professional REALTOR® experienced at the business side of buying and selling.

Choice Properties, LLC Can Help You Apply for a Home Loan

When buying a home, the loan application is very distressing for a lot of people, but it doesn't have to be. We have excellent relationships with various lending companies in Charlotte, and they've helped us understand a few things that will make the process of applying for a loan easy.

1.  Compile a list of questions about your loan program

Make sure you have a list of questions with you if you find that you don't totally understand the advantages and disadvantages of all the various programs. One of our lender contacts or staff will assist you in understanding the advantages and disadvantages of each program, because it's hard to understand the distinctions between fixed and adjustable rate mortgages.

2.  Determine when to lock

Locking in the interest rate indicates that the mortgage lender guarantees the interest rates for the loan – normally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Buyers who decide to float think that 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 decrease your rate

When you opt to pay additional points to lower the rate of your loan, you will pay for them in cash at closing. Every point is 1 percent of the loan. To decide if purchasing points is the best option for you, click here to use our points calculator.

4.  Compile your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to get a feel for typical questions you'll have to answer on a loan app.

 

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