Applying for your home loan in Houston

When purchasing a home, the loan application is very troublesome for a lot of people, but it doesn't have to be. I have close professional relationships with various lending companies in the Houston area, and they've helped me understand a few things that make the process of applying for a loan very easy.

1 – Compose a list of questions about your loan program

Be sure to bring a list of questions if you don't totally understand the advantages and disadvantages of all the various programs. It can be a challenge to understand the distinctions between both fixed and adjustable rate mortgages. One of my lenders or I will be able to help you understand the advantages and disadvantages of both programs.

2 – Decide when you want to lock

When you lock in a rate, it signifies that a lender commits to the interest rates for the loan – usually at the time the loan application is presented. By floating the rate, you can lock the rate at any time between application and at the time of closing. Those who elect to float believe that interest rates will dip in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Gather your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to get a feel for general questions you'll have to answer on a loan app.

Need More Assistance?

Getting your loan locked down is just one aspect of getting into a new home. Crest Realty is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Contact me if your needs include a professional REALTOR® experienced at the business side of buying and selling.

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