
	Getting your mortgage is just one aspect of a real estate transaction. Coldwell Banker Sea Coast Realty is experienced at assisting new and experienced in all areas of real estate. Call us today at 910-250-6073 if your needs include a professional REALTOR^® ready for the business side of real estate.

Are you financing a home?

Securing a mortgage loan can be one of the more exasperating elements of purchasing a home. But it doesn't have to be. I've got great connections to many lenders in Southport, and they've helped me realize some things that can make the loan application process much easier.

1 – Compose a list of questions regarding your loan program

If you find that you don't totally understand the ins and outs of all the various loan programs, be sure you bring a list of questions with you. Oftentimes, it can be a challenge to know the distinctions between both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of each program.

2 – Determine when to lock

When you lock in an interest rate, the lender is sure to keep to the interest rates for the loan – commonly at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Buyers who prefer to float conclude that 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 interest rate

When you elect to pay additional points to lower the rate of your loan, you'll pay for them in cash at closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will assist you in determining if purchasing points is right for you.

4 – Compile your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to preview typical information that goes on a loan application.