
	Securing financing is just one part of a real estate transaction. New Wave Real Estate is experienced at aiding new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of buying and selling.

Are you financing a home in Aynor?

When purchasing a home, applying for the loan is very demanding for many people, but it doesn't have to be. I've got great connections to many lending companies in the Aynor area, and they've helped me learn a few things that make the loan application process much easier.

1 – Assemble a list of questions about your loan program

If you don't thoroughly understand the pros and cons of all the various programs, be sure to have a list of questions. It can be a challenge to understand the distinctions between fixed and adjustable rate mortgages. I or one of my lender contacts will be able to assist you in understanding the advantages and disadvantages of both programs.

2 – Decide when you want to lock

By locking in the interest rate, a lender is guaranteeing the interest rates for the loan – most often 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 at the time of closing. Those who choose to float conclude that the interest rates will drop in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to reduce your rate

When you decide to pay additional points to lower the interest rate of your mortgage 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 determining if buying points is right for you.

4 – Compile your paperwork

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