Securing financing is just one aspect of getting into a new home. Matlock Realty is experienced at assisting 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 Combine?

When buying a home, the loan application is distressing for a lot of people, but it doesn't have to be. We have excellent relationships with several mortgage lenders in Combine, and they've helped us recognize a few things that can make the process of applying for a loan uncomplicated.

1 – Compile a list of questions regarding your loan program

Make sure you bring a list of questions with you if you find that you don't fully grasp the advantages and disadvantages of all the different loan programs. It is hard to understand the characteristics of both fixed and adjustable rate mortgages. One of our lender contacts or associates can assist you in understanding the advantages and disadvantages of both.

2 – Determine when you want to lock

Locking in the interest rate designates that a mortgage lender commits to the interest rates for the loan – generally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between application and at the time of closing. Those who decide to float think that the interest rates will drop 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 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 the time of closing. If you're unsure if buying points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to preview common information that goes on a loan application.