Securing financing is just one part of a real estate transaction. JOHNSON REAL ESTATE, INC. is seasoned at helping new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR® ready for the business side of real estate.


Applying for a home loan with help from JOHNSON REAL ESTATE, INC.

When buying a home, applying for the mortgage loan is very demanding for a lot of people, but it doesn't have to be. I've got great connections to a lot of lenders in Cromwell, and they've helped me understand some things that can make the process of applying for a loan very manageable.

1 – Assemble a list of questions about your loan program

Be sure to have a list of questions with you if you find that you don't entirely comprehend the advantages and disadvantages of the different programs. I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each one, because it can be a challenge to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the rate, the mortgage lender is guaranteed to keep to the mortgage interest rates for the loan – usually at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Buyers who elect to float think the interest rates will drop 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 reduce your interest rate

Normally you can elect to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. 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

Acquiring a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to get a feel for common questions you'll have to answer on a loan app.

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JOHNSON REAL ESTATE CROMWELL'S OLDEST ESTABLISHED FULL SERVICE REAL ESTATE COMPANY


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