Getting your loan locked down is just one aspect of a real estate transaction. ERA Team IV Homes is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 845-454-4404 if your needs include a professional REALTOR® experienced at the business side of buying and selling.


Are you thinking about financing a home?

When buying a home, applying for the mortgage loan is troublesome for most people, but it doesn't have to be. Being connected with a lot of lending companies in the Poughkeepsie area has helped me learn some things that can make the process of applying for a loan effortless.

1 – Compile a list of questions about your loan program

Make sure to bring a list of questions with you if you don't thoroughly understand the advantages and disadvantages of the different loan programs. It's hard to understand the distinctions between fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of both programs.

2 – Decide when you want to lock

When you lock in an interest rate, the mortgage lender is sure to keep to the mortgage interest rates for the loan – most often at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for the loan and issuance of closing documents. Buyers who prefer to float think that the interest rates will decline 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 decrease your rate

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

4 – Bring your paperwork

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

Today's Rates:

Mtg Loan    Rate  APR
30-yr Fixed3.87%4%
15-yr Fixed3.14%3.31%
1-yr Adj2.76%3.42%
* national averages
Connect With Me:

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.
 
Your Information
*Name:
*Email:
Phone:

Your Question
Question:

Note: Fields with an * are required

  

                                                        National Home Search, Plus Real Estate Agent and Lender Directory

ERA Team IV Homes: Real Estate Brokerage in Poughkeepsie, Dutchess County, New York Visit  


ERA Team IV Homes 483 Freedom Plains Rd Poughkeepsie, NY 12603
Phone: Fax:

Free Home Valuation | Contact Information | Join Our Team | Foreclosure??? | Why Join ERA? | Four Corners | Zip Codes | Foreclosures | December 2011 | January 2012 | Real Estate Glossary | Neighborhood Prices | FREE Home Guides | Buying Foreclosures/REO's

Copyright © 2012 ERA Team IV Homes
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.



 
State:
County:
City:
Zip: