253.312.5952 aaron@aaronjrosen.com

New Home Financing

Are you thinking about financing your home in Bellevue?

When purchasing a home, applying for financing is stressful for a lot of people, but it doesn’t have to be. Being close to several lending companies in the Bellevue area has helped me recognize some things that make the loan application process effortless.

1 – Create a list of questions regarding your loan program Be sure you have a list of questions if you find that you don’t thoroughly understand the pros and cons of all the various loan programs. It is a challenge understanding the distinctions between both fixed and adjustable rate mortgages.

I or one of my lender contacts will be able to assist you in understanding the advantages and disadvantages of each program.

2 – Decide when you want to lock When you lock in an interest rate, the lender is sure to commit 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 day you apply for the loan and closing. Buyers who choose to float believe that interest rates will fall in the near future.

3 – Decide if you want to pay additional points to lower your interest rate When you choose to pay additional points to lower the interest rate of your loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will help you determine if buying points is the best option for you.

4 – Bring your paperwork Acquiring a mortgage loan requires a lot of paperwork, so you should take some time to get your documentation together.

Give me a call to discuss new home financing options 253-312-5952

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