Getting your loan locked down is just one aspect of a real estate transaction. BAY REAL ESTATE is seasoned at assisting new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR® experienced at the business side of real estate.


Are you going to finance your new home in SAN FRANCISCO?

Stressed out about getting financing for a home purchase? You don't have to be. I have excellent relationships with several mortgage lenders in SAN FRANCISCO, and they've helped me learn some things that make the loan application process a snap.

1 – Create a list of questions regarding your loan program

Make sure you bring a list of questions with you if you don't fully comprehend the pros and cons of the various programs. Oftentimes, it can be hard to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my lenders will be able to help you understand the advantages and disadvantages of both programs.

2 – Determine when you want to lock

When you lock in a rate, a mortgage lender is guaranteed to hold to the interest rates for the loan – ordinarily at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day of your loan application and issuance of closing documents. Buyers who choose to float presume that interest rates will fall 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 lower your rate

If you decide to pay additional points to lower the rate of your loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. If you're undecided on whether or not purchasing points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to get a feel for common information that goes on a loan application.

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