Getting your mortgage is just one aspect of getting into a new home. Wilson Realty is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact me if your needs include a real estate pro ready for the business side of buying and selling.

Applying for a home loan in the Charlotte metro area

Applying for mortgage financing can be one of the most troublesome parts of purchasing a house. But it doesn't have to be. I have close working relationships with several lenders in the the Charlotte metro area, and they've helped me understand some things that make the loan application process very easy.

1 – Make a list of questions regarding your loan program

Make sure to have a list of questions if you do not totally comprehend the ins and outs of all the different loan programs. One of my lenders or I can assist you with understanding the advantages and disadvantages of both programs, because it's a challenge to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in the rate, your lender is guaranteed to hold to the mortgage interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day of your loan application and the issuing of closing documents. Those who prefer to float believe the interest rates will dip in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Bring your paperwork

Obtaining a loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to get a feel for common information that goes on a loan application.

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