Securing financing is just one part of a home purchase. All agents at Downing-Frye Realty, Inc. are experienced at aiding both new and experienced buyers alike 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.
Stressed out about getting financing for a home purchase? You don’t have to be. We’ve got great connections to several lending companies in Naples, and they’ve helped us realize some things that will make the process of applying for a loan a snap.
If you find that you do not completely understand the pros and cons of the different financing options, make sure to have a list of questions with you. It is hard to know the differences between fixed and adjustable rate mortgages. One of our lenders or us will assist you with understanding the advantages and disadvantages of each one.
By locking in an interest rate, your mortgage lender is keeping to the interest rates for the loan – normally at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between application and closing. Those who opt to float think that the interest rates will plunge in the near future. Click here to see the outlook for the next 90 days of interest rates.
If you opt to pay additional points to lower the interest rate of your mortgage loan, you’ll pay for them in cash at closing. Each point is 1 percent of the mortgage loan. If you’re unsure if buying points is right for you, click here to use our points calculator.
Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to preview common information that goes on a loan application.
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