Getting your loan locked down is just one aspect of a home purchase. Belanger Realty is experienced at assisting new and experienced in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling. Thinking about financing a home in West Poland? For a lot of people, securing a mortgage loan is one of the most demanding elements of buying a home. But it doesn't have to be. I have excellent relationships with many lending companies in the West Poland area, and they've helped me learn some things that make the process of applying for a loan effortless. 1 – Put together a list of questions regarding your loan program Make sure you have a list of questions if you do not perfectly understand the advantages and disadvantages of all the various programs. It is often a challenge to understand the characteristics of fixed and adjustable rate mortgages. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each one. 2 – Determine when you want to lock By locking in the rate, the lender is committing to the interest rates for the loan – generally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for the loan and the issuing of closing documents. Those who opt to float think interest rates will dip 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 lower your interest rate Oftentimes you can opt to pay additional points to lower the rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. If you're undecided on whether or not buying points is right for you, click here to use our points calculator. 4 – Gather your paperwork Getting a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to preview normal information that goes on a loan application.

Belanger Realty for residential, lakefront and waterfront real estate in Maine.
Thompson Lakes real estate, Thompson Lakes homes for sale, Poland Maine homes for sale, Mechanic Falls, Minot, Casco, Oxford, New Gloucester, Raymond, and Tripp Maine real estate. We specialize in Maine waterfront and lakefront properties in all the above towns.