Getting your mortgage is just one aspect of a real estate transaction. Bylsma Property Group is experienced at helping both new and experienced buyers alike in all areas of real estate. Contact us
if your needs include a professional REALTOR®
ready for the business side of buying and selling.
Feeling lots of anxiety over getting financing for a home purchase? You don't have to be.
We have close relationships with a lot of lenders in Oregon City, and they've helped us learn some things that make the loan application process much easier.
1 – Make a list of questions regarding your loan program
If you find that you don't completely realize the ins and outs of the different loan programs, be sure to bring a list of questions with you.
It is a challenge to understand the differences between fixed and adjustable rate mortgages. One of our lenders or associates will be able to help you understand the advantages and disadvantages of each program.
2 – Determine when to lock
When you lock in an interest rate, the lender is sure to commit to the interest rates for the loan – most often at the time the loan application is received.
By floating the rate, you can lock the rate at any time between application and at the time of closing. Buyers who prefer to float conclude 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 lower your interest rate
When you choose to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan.
To determine if you should purchase points, click here to use our points calculator.
4 – Compile your paperwork
Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here to see general questions you'll have to answer on a loan app.