Securing financing is just one aspect of getting into a new home. Stratford Realty is seasoned at helping both new and experienced buyers alike in all areas of real estate. Contact me if your needs include a real estate pro experienced at the business side of buying and selling.

Applying for a home loan in Stratford with the help of Stratford Realty

Stressed out about applying for a mortgage? You don't have to be. Being connected with a lot of lenders in the Stratford area has helped me understand a few things that can make the process of applying for a loan effortless.

1 – Make a list of questions about your loan program

Be sure to bring a list of questions with you if you find that you don't entirely grasp the advantages and disadvantages of all the different programs. It can be a challenge to know the characteristics of both fixed and adjustable rate mortgages. One of my trusted lenders or I will be able to assist you with understanding the advantages and disadvantages of each.

2 – Determine when to lock

Locking in the interest rate denotes that a lender guarantees 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 application and issuance of closing documents. Buyers who prefer to float believe interest rates will plunge 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

Oftentimes you can choose 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 closing. Click here to use my points calculator. It will assist you with deciding if buying points is the best option for you.

4 – Gather your paperwork

Acquiring a loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to see typical questions you'll have to answer on a loan app.