Securing financing is just one part of a home purchase. Halvatzis Realty Inc is experienced at helping both new and experienced buyers alike in all areas of real estate. Contact me if your needs include a professional REALTOR® ready for the business side of buying and selling.

Are you thinking of financing a home?

Stressed out about applying for a mortgage? You don't have to be. I have close relationships with a lot of lending companies in the Astoria area, and they've helped me recognize some things that can make the loan application process uncomplicated.

1 – Compile a list of questions about your loan program

If you find that you don't entirely understand the advantages and disadvantages of all the different financing options, make sure you have a list of questions. Oftentimes, it can be hard to understand the characteristics of both fixed and adjustable rate mortgages. One of my lender contacts or I can assist you with understanding the advantages and disadvantages of both programs.

2 – Determine when to lock

When you lock in an interest rate, your lender is guaranteed to hold to the mortgage interest rates for the loan – commonly at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Those who prefer to float think that interest rates will dip 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

Oftentimes you can choose to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. If you're unsure as to whether or not buying points is right for you, click here to use my points calculator.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to preview normal information that goes on a loan application.