Applying for a loan with the help of E Z Home Search Real Estate Inc.

For many people, applying for the mortgage loan is one of the most stressful aspects of purchasing a home, but it doesn't have to be. Being close with several lending companies in Fall River has helped me realize a few things that make the process of applying for a loan very easy.

1 – Put together a list of questions about your loan program

If you find that you don't perfectly understand the advantages and disadvantages of all the various programs, make sure to have a list of questions. It is a challenge to understand the distinctions between fixed and adjustable rate mortgages. I or one of my lender contacts can help you understand the advantages and disadvantages of each program.

2 – Decide when you want to lock

Locking in the rate designates that your lender keeps to the mortgage interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the loan application day and closing. Buyers who choose to float believe that the interest rates will dip 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 interest rate

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

4 – Gather your paperwork

Obtaining 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 typical loan documentation.

Mortgage Calculator


English French German Portuguese Spanish

E Z Home Search Real Estate Inc.