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Getting your mortgage is just one aspect of a home purchase. Achievers Realty, The Home Seller is seasoned at helping new and experienced in all areas of real estate. Contact me if your needs include a professional REALTOR® ready for the business side of buying and selling.

Let Achievers Realty, The Home Seller assist you in financing your new home.

When buying a home, the mortgage loan application is very stressful for many people, but it doesn't have to be. I've got great connections to various lending companies in the Brooklyn area, and they've helped me understand a few things that will make the loan application process easy.

1 – Assemble a list of questions about your loan program

Be sure to have a list of questions if you find that you do not entirely grasp the ins and outs of the various loan programs. One of my trusted lenders or I will be able to assist you with understanding the advantages and disadvantages of each one, because it can be a challenge to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in a rate, the lender is guaranteed to hold to the 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 day you apply for your loan and issuance of closing documents. Those who prefer to float conclude the interest rates will plunge 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 opt to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. To determine if you should purchase points, click here to use my points calculator.

4 – Bring your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to preview typical information that goes on a loan application.