Securing financing is just one part of a home purchase. Heartland Realty of Hays, LLC is experienced at aiding new and experienced in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.
Applying for your loan in Hays
When purchasing a home, applying for a loan is very distressing for a lot of people, but it doesn't have to be.
Being connected with a lot of mortgage lenders in Hays has helped me recognize a few things that can make the loan application process pretty simple.
1 – Assemble a list of questions regarding your loan program
Make sure to have a list of questions if you don't fully comprehend the advantages and disadvantages of the various programs.
It's a challenge to know the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders can help you understand the advantages and disadvantages of both.
2 – Decide when to lock
By locking in the rate, your mortgage lender is committing to the interest rates for the loan – usually at the time the loan application is received.
By floating the rate, you can lock the rate at any time between application and the issuing of closing documents. Those who prefer to float conclude the interest rates will plunge in the near future. Click here to see the outlook for the next 90 days of interest rates.
3 – Decide if you want to pay additional points to reduce your rate
Generally you can decide to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing.
To determine if buying points is the best option for you, click here to use our points calculator.
4 – Gather your paperwork
Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to preview normal questions you'll have to answer on a loan app.
Heartland Realty of Hays, LLC 1502 Vine St Hays, KS 67601-3455
