Securing financing is just one part of a real estate transaction. Seagroves Realty is seasoned at assisting new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.
Applying for a home loan in Durham with the help of Seagroves Realty
When buying a home, the mortgage loan application is very demanding for many people, but it doesn’t have to be. I’ve got great connections to several lending companies in the Durham area, and they’ve helped me realize some things that will make the loan application process a snap.
1 – Compose a list of questions regarding your loan program
If you find that you don’t completely understand the pros and cons of all the various loan programs, be sure to bring a list of questions. One of my lenders or I will be able to help you understand the advantages and disadvantages of each one because it is hard to know the distinctions between both fixed and adjustable-rate mortgages.
2 – Determine when you want to lock
When you lock in a rate, it designates that your mortgage lender commits to the mortgage 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 the loan application day and the issuance of closing documents. Those who opt to float believe that interest rates will drop in the near future. Click here to see the outlook for the next 90 days of interest rates.
3 – Gather your paperwork
Acquiring a mortgage loan requires a lot of paperwork, so you should take some time to get all your documents together. Click here to preview common questions you’ll have to answer on a loan app.
By no means a definitive list of qualified and reputable lenders, here are the lenders Seagroves Realty know and trust the most.
VP & Sr. Loan Officer