
	Getting your mortgage is just one aspect of getting into a new home. Exit Real Estate Consultants Realty 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 buying and selling.

Loan Calculator

Exit Real Estate Consultants Realty can help you apply for a new home loan.

For a lot of people, securing a loan can be one of the more stressful aspects of buying a house. But it doesn't have to be. I have close business relationships with a lot of lenders in Chapin, and they've helped me understand a few things that make the loan application process very manageable.

1 – Compose a list of questions regarding your loan program

Make sure to have a list of questions if you do not thoroughly grasp the advantages and disadvantages of all the various programs. At times, it can be hard to understand the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts will help you understand the advantages and disadvantages of each one.

2 – Decide when to lock

By locking in the rate, a lender is committing to the interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for your loan and at the time of closing. Those who elect to float think the interest rates will fall 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 reduce your rate

Typically you can opt to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. If you're not sure if purchasing points is right for you, click here to use our points calculator.

4 – Bring your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to get a feel for typical information that goes on a loan application.