Getting your mortgage is just one aspect of a home purchase. Dineen Realty is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 732-613-9300 if your needs include a real estate pro experienced at the business side of real estate.

Applying for a new home loan with the help of Dineen Realty

When purchasing a home, applying for a loan is distressing for a lot of people, but it doesn't have to be. Being connected with a lot of lenders in Sayreville has helped us realize a lot of the things that will make the process of applying for a loan pretty simple.

1 – Create a list of questions about your loan program

If you find that you do not thoroughly comprehend the pros and cons of all the various programs, make sure you bring a list of questions with you. It can be a challenge understanding the differences between fixed and adjustable rate mortgages. We or one of our lenders will assist you in understanding the advantages and disadvantages of both programs.

2 – Decide when you want to lock

When you lock in the rate, the mortgage lender is guaranteed to hold to the mortgage interest rates for the loan – usually at the time the loan application is received. By floating the rate, you can lock the rate at any time between the loan application day and the issuing of closing documents. Buyers who choose to float believe 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 interest rate

If you elect to pay additional points to lower the interest rate of your loan, you'll pay for them in cash at closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. It will assist you in deciding if buying points is the best option for you.

4 – Gather your paperwork

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

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