Securing financing is just one part of a home purchase. Gateway to the Hamptons Real Estate is experienced at helping new and experienced in all areas of real estate. Contact me if your needs include a professional REALTOR® ready for the business side of buying and selling.

Do you want to finance your home? Gateway to the Hamptons Real Estate can help.

Feeling lots of anxiety over getting financing for a home purchase? You don't have to be. I have close working relationships with a lot of mortgage lenders in Speonk, and they've helped me understand some things that will make the process of applying for a loan a breeze.

1 – Compose a list of questions about your loan program

If you don't completely realize the advantages and disadvantages of the various loan programs, make sure to have a list of questions. At times, it can be hard to understand the distinctions between fixed and adjustable rate mortgages. One of my lender contacts or I will help you understand the advantages and disadvantages of each.

2 – Decide when you want to lock

By locking in the rate, the lender is guaranteeing the interest rates for the loan – often at the time the loan application is presented. By floating the rate, you can lock the rate anytime between application and at the time of closing. Buyers who choose to float presume the interest rates will dip 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 reduce your interest rate

Oftentimes you can decide to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the loan and is payable in cash at closing. To decide if buying points is the best option for you, click here to use my points calculator.

4 – Bring your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to get a feel for normal information that goes on a loan application.

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