Securing financing is just one aspect of a real estate transaction. Sarah Eden & Company is experienced at helping 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 your new home loan with help from Sarah Eden & Company

Securing a mortgage loan is one of the more troublesome aspects of buying a house. But it doesn't have to be. We have excellent relationships with various lenders in the Tallahassee area, and they've helped us understand some things that make the loan application process a snap.

1 – Organize a list of questions regarding your loan program

If you do not perfectly understand the advantages and disadvantages of all the different programs, make sure you bring a list of questions with you. One of our lenders or staff will be able to assist you in understanding the advantages and disadvantages of each one, because it is a challenge to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when to lock

By locking in the rate, the lender is keeping to the mortgage interest rates for the loan – normally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the loan application day and closing. Buyers who choose to float conclude 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

When you choose to pay additional points to lower the interest rate of your loan, you will pay for them in cash at closing. Every point is 1 percent of the loan. If you're undecided as to whether or not buying points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to preview normal questions you'll have to answer on a loan app.