E Z Home Search Real Estate Inc. can assist you in applying for a new home loan in Fall River.

Applying for the loan can be one of the most exasperating aspects of purchasing a house for a buyer, but it doesn't have to be. Being connected to several lending companies in the Fall River area has helped me understand some things that can make the process of applying for a loan very easy.

1 – Create a list of questions about your loan program

Be sure to bring a list of questions if you don't completely realize the ins and outs of the various loan programs. I or one of my lenders will be able to help you understand the advantages and disadvantages of each one, because it is hard to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in an interest rate denotes that your lender commits to the mortgage interest rates for the loan – most 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 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 – Decide if you want to pay additional points to lower your rate

Normally you can opt to pay additional points to lower the rate of your loan. Each point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. It will help you determine if buying points is right for you.

4 – Gather your paperwork

Acquiring a loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to get a list of general loan documentation.

Featured Properties

  • 3 Bedrooms
  • 2 Full, 1 Half Bath(s)
  • 1860 Sq ft. (MOL)
  • Fall River

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