E Z Home Search Real Estate Inc. can assist you in financing your home.

When buying a home, applying for the loan is very demanding for most people, but it doesn't have to be. I have a close business relationship with some lending companies in Fall River, and they've helped me realize a few things that can make the process of applying for a loan a snap.

1 – Create a list of questions regarding your loan program

Be sure to have a list of questions with you if you find that you do not entirely realize the pros and cons of all the different loan programs. It is a challenge to understand the differences between 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 one.

2 – Decide when you want to lock

By locking in a rate, the lender is guaranteeing the mortgage interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for your loan and issuance of closing documents. Those who choose to float think that 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 rate

Normally you can choose to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will assist you in deciding if buying points is right for you.

4 – Bring your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here for a list of common loan documentation.

Featured Properties

  • 6 Bedrooms
  • 3 Full, 2 Half Bath(s)
  • 4340 Sq ft. (MOL)
  • Fall River

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