Getting your mortgage is just one aspect of getting into a new home. Chartwell Realty is experienced at assisting new and experienced in all areas of real estate. Call me today at 816-877-8233 if your needs include a professional REALTOR® experienced at the business side of real estate.



Thinking of financing a new home in Kansas City?

Stressed out about getting financing for a home purchase? You don't have to be. I have close business relationships with some reputable lenders in Kansas City, and they've helped me learn a few things that can make the loan application process effortless.

1 – Put together a list of questions regarding your loan program

Be sure to bring a list of questions if you find that you don't entirely comprehend the ins and outs of the different loan programs. One of my lender contacts or I will be able to assist you in understanding the advantages and disadvantages of each program, because it can be hard to know the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

By locking in an interest rate, your lender is committing to the mortgage interest rates for the loan – ordinarily 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 your loan and the issuing of closing documents. Those who choose to float presume 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 rate

Generally you can opt to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. To decide if purchasing points is the best option for you, click here to use my points calculator.

4 – Gather your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here to see general questions you'll have to answer on a loan app.

 

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