
	Getting your mortgage is just one aspect of getting into a new home. Rodeo Realty The BestSellers, Inc. is experienced 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.

Do you wish to finance a home in Monsey?

For a lot of people, applying for the mortgage loan can be one of the more stressful parts of buying a home. But it doesn't have to be. I've got great connections to various lending companies in Monsey, and they've helped me learn some things that make the process of applying for a loan very manageable.

1 – Compose a list of questions regarding your loan program

Make sure you have a list of questions if you find that you don't completely grasp the advantages and disadvantages of the various loan programs. It is often a challenge to understand the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts can assist you in understanding the advantages and disadvantages of each.

2 – Decide when to lock

By locking in the interest rate, your mortgage lender is keeping to the mortgage interest rates for the loan – often 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. Buyers who elect to float presume that interest rates will dip 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 interest rate

Generally you can elect 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. It will assist you with deciding if purchasing points is the best option for you.

4 – Bring your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to preview normal information that goes on a loan application.