Getting your mortgage is just one aspect of getting into a new home. J AND F ASSOCIATES is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® ready for the business side of buying and selling.
Are you financing your new home in Gilbert? J AND F ASSOCIATES can help.
For many people, applying for the loan is one of the most distressing elements of purchasing a house. But it doesn't have to be.
Being familiar with many lending companies in the Gilbert area has helped me recognize a few things that will make the process of applying for a loan easy.
1 – Create a list of questions about your loan program
If you find that you don't perfectly comprehend the ins and outs of the different loan programs, be sure to have a list of questions.
It can be a challenge to know the differences between fixed and adjustable rate mortgages. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of both.
2 – Determine when to lock
When you lock in the interest rate, it indicates that a lender commits to the interest rates for the loan – most often at the time the loan application is presented.
By floating the rate, you can lock the rate anytime between the loan application day and issuance of closing documents. Buyers who opt to float think interest rates will decline 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 decrease your interest rate
If you elect to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the loan.
If you're undecided as to whether or not buying points is right for you, click here to use our points calculator.
4 – Compile your paperwork
Getting a loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to see common information that goes on a loan application.
J AND F ASSOCIATES 528 E Gail Dr Gilbert, AZ 85296
