
	Getting your mortgage is just one aspect of a real estate transaction. The High Tide Realty Team of Coastal Properties is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 9102568171 if your needs include a real estate pro ready for the business side of buying and selling.

Are you going to finance your home? The High Tide Realty Team of Coastal Properties can help.

When buying a home, applying for financing is distressing for most people, but it doesn't have to be. I have excellent relationships with a lot of mortgage lenders in Wilmington, and they've helped me realize some things that will make the process of applying for a loan pretty simple.

1 – Compose a list of questions about your loan program

Be sure you bring a list of questions if you don't totally comprehend the pros and cons of all the various loan programs. I or one of my lender contacts can assist you with understanding the advantages and disadvantages of each program, because it can be a challenge to know the differences between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in an interest rate means that a mortgage lender guarantees the mortgage interest rates for the loan – typically at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Those who choose to float presume interest rates will plunge in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to lower your interest rate

Normally you can decide to pay additional points to lower the rate of your loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. If you're undecided on whether or not purchasing points is right for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to see common information that goes on a loan application.