Getting your loan locked down is just one part of a real estate transaction. Graci Real Estate and Appraisal Service, L.L.C. is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of real estate.


Are you going to finance a home?

For most people, securing the loan can be one of the more stressful elements of buying a house. But it doesn't have to be. By following the few steps below, you can get a head start on your loan application process:

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

Be sure you bring a list of questions if you do not thoroughly understand the pros and cons of all the various programs. It can be hard to understand the differences between fixed and adjustable rate mortgages. Your lender will help you understand the advantages and disadvantages of each.

2 – Determine when you want to lock

By locking in an interest rate, your mortgage lender is guaranteeing the interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the loan application day and issuance of closing documents. Those who prefer to float conclude interest rates will decline 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 interest rate

If you decide to pay additional points to lower the interest rate of your loan, you will do so by paying for them in cash at closing. Every point is 1 percent of the loan. Click here to use our points calculator. This tool will help you decide if buying points is right for you.

4 – Compile your paperwork

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

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