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Applying for a Loan

Getting your mortgage is just one part of a home purchase. Heritage Success Realty is experienced 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 buying and selling.

Do you wish to finance a new home in The Valley?

Feeling lots of anxiety over getting financing for a home purchase? You don't have to be. I have close professional relationships with many mortgage lenders in The Valley, and they've helped me recognize a few things that make the loan application process a snap.

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

Be sure you bring a list of questions with you if you don't entirely understand the advantages and disadvantages of the various programs. It is often hard to understand the distinctions between fixed and adjustable rate mortgages. I or one of my lenders can assist you in understanding the advantages and disadvantages of each one.

2 – Decide when to lock

Locking in the interest rate denotes that the mortgage lender holds to the mortgage interest rates for the loan – often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and closing. Those who decide to float think 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 lower your interest rate

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

4 – Compile your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to get a feel for normal information that goes on a loan application.