Are you thinking about financing a new home? E Z Home Search Real Estate Inc. can help.

When buying a home, applying for the mortgage loan is a very demanding event for a lot of people, but it doesn't have to be. I have a close relationship with various lending companies in Fall River, and they've helped me recognize some things that can make the process of applying for a loan easy.

1 – Compose a list of questions about your loan program

If you find that you do not thoroughly comprehend the pros and cons of the different programs, be sure you bring a list of questions with you. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of each one, because it can be hard to know the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in an interest rate, your lender is guaranteed to commit to the interest rates for the loan – normally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day of your loan application and issuance of closing documents. Those who prefer to float believe that interest rates will drop 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 reduce your rate

When you choose to pay additional points to lower the rate of your loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. It will assist you with determining if purchasing points is the best option for you.

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to get a list of normal loan documentation.

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E Z Home Search Real Estate Inc.