Are you looking to finance your new home in Mineral Wells?

When purchasing a home, applying for a mortgage loan is very troublesome for many people, but it doesn't have to be. I have a close relationship with many mortgage lenders in the Mineral Wells area, and they've helped me learn a few things that make the process of applying for a loan very easy.

1 – Organize a list of questions about your loan program

If you don't completely comprehend the pros and cons of all the various loan programs, make sure you bring a list of questions. It is often a challenge to understand the differences between fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of each program.

2 – Decide when to lock

By locking in an interest rate, the lender is committing to the mortgage interest rates for the loan – most often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and closing. Those who choose to float believe the interest rates will plunge 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

Oftentimes you can choose to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will help you decide if purchasing points is the best option for you.

4 – Bring your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to get a list of general loan documentation.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

Your Information
Some Details