Securing financing is just one part of a real estate transaction. RE/MAX of Boulder, Inc. is experienced at aiding both new and experienced buyers alike in all areas of real estate. Call us today at 303-441-5623 if your needs include a real estate pro experienced at the business side of real estate.
Are you financing a new home?
Stressed out about applying for a mortgage? You don't have to be.
I've got great connections to many lenders in the Boulder area, and they've helped me learn some things that will make the process of applying for a loan very manageable.
1 – Assemble a list of questions regarding your loan program
If you do not totally understand the pros and cons of the various programs, make sure you have a list of questions.
It can be a challenge understanding the distinctions between both fixed and adjustable rate mortgages. I or one of my lenders will help you understand the advantages and disadvantages of both programs.
2 – Decide when you want to lock
When you lock in an interest rate, it denotes that the mortgage lender holds to the interest rates for the loan – often at the time the loan application is received.
By floating the rate, you can lock the rate anytime between the day of your loan application and issuance of closing documents. Those who prefer to float presume 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
If you choose to pay additional points to lower the interest rate of your loan, you'll do so by paying for them in cash at the time of closing. Each point is 1 percent of the loan.
Click here to use our points calculator. It will help you determine if buying points is right for you.
4 – Gather your paperwork
Getting a loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to see normal information that goes on a loan application.
