Securing financing is just one aspect of getting into a new home. RD Team Realtors® is seasoned at helping new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR® experienced at the business side of buying and selling.
RD Team Realtors® can help you with financing your home in NAPA.
Feeling lots of anxiety over getting financing for a home purchase? You don't have to be. We've got great connections to several lenders in the NAPA area, and they've helped us learn some things that make the loan application process effortless.
1 – Make a list of questions regarding your loan program
Be sure to have a list of questions with you if you do not completely understand the advantages and disadvantages of all the different loan programs. At times, it can be a challenge to understand the differences between both fixed and adjustable rate mortgages. We or one of our lenders can assist you with understanding the advantages and disadvantages of both programs.
2 – Determine when to lock
When you lock in an interest rate, it indicates that a lender guarantees the interest rates for the loan – often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Buyers who prefer to float think interest rates will plunge in the near future. Click here to see the outlook for the next 90 days of interest rates.
3 – Decide if you want to pay additional points to decrease your rate
Usually you can choose to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. To decide if buying points is right for you, click here to use our points calculator.
4 – Compile your paperwork
Acquiring a loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to preview common questions you'll have to answer on a loan app.
