Loan Application Checklist

For many buyers, applying for the mortgage loan is one of the more stressful aspects of buying a home. The loan application need not be a stressful time. By following a few easy steps, you'll sail through the loan application process.

  1. Make a list of any questions you have about the loan program.
    Be sure you understand the advantages and disadvantages of the various mortgage programs for which you may qualify, including the advantages and disadvantages of Fixed Rate Mortgages versus Adjustable Rate Mortgages.

  2. Decide if you want to lock-in or float the loan's interest rate.
    Locking-in the rate means that the lender commits to the mortgage interest rate for the loan typically at the time the loan application is submitted. By floating the rate, you can lock-in the interest rate anytime between the loan application day and closing. Buyers opt to "float the loan" when they believe interest rates will drop after their loan application date and prior to closing. The risk is that rather than dropping, interest rates may rise, increasing the mortgage payment.

  3. Decide if you want to pay additional points to lower your interest rate.
    Typically you can elect to pay additional points (each point is 1 percent of the mortgage loan payable in cash at closing) to lower the interest rate of your mortgage loan.

  4. Gather your paperwork.
    Click here to view a list of typical loan documentation.

SENIORS RESIDENTIAL SPECIALIST

SENIORS REAL ESTATE SPECIALIST


REMAX UNIVERSAL REAL ESTATE 218-14 Northern Blvd. Bayside, NY 11361
Phone: Cell: Fax:

Why Get An Inspection? | Title Information | ResultsforYou | 10 REASONS TO CHOOSE ME | CONTACT US | Setting the Sales Price | Tax Closing Costs | Getting the Highest Price | SELLING YOUR OWN HOME | FREE HOME VALUATION | FIND A HOME! | Your FICO Score | How Escrow Works | SCHOOL STATISTICS | OPEN HOUSE | WHY HIRE A REALTOR? | CONTACT PAM TODAY! | MOVING SERVICES | WHY REMAX VIDEO | GET ENERGY SMART | Neighborhoods-Fresh Meadows | MORTGAGE/REAL ESTATE NEWS | ACTIVITIES I DO TO CLOSE TRANSACTIONS | CODE OF ETHICS | WHY REMAX? | REMAX STATISTICS | SEARCH FORECLOSURE LISTINGS | SEARCH REMAX PROPERTIES | FREE ACCURATE APPRAISAL | PAM'S EXCLUSIVE SERVICES | QUEENS MARKET UPDATE | BUYER SERVICES | SELLER GUARANTEE | MEET PAM DICKMAN | MOVING COACH LINK | WHY A HOME INSPECTION? | MARKETING PLAN | NEIGHBORHOOD PROFILES | RECENT HOME SALES | FREE IN HOME CONSULTATIONS | HOME INSPECTION SERVICES | WHY SELLERS CHOOSE PAM | NEW DAILY LISTINGS | First Time Buyers | Inspection Tips | Home Buyer Checklist | LOOKING TO BUY? | TELL A FRIEND | News | Press Release | Real Estate Glossary | LOOKING TO SELL? | PAM'S EXCLUSIVE HOMES | HOME | Applying for a Loan | Mortgage Saving Tips | Your Downpayment | Document Your Assets | Your Buying Power | Writing the Offer | Mortgage Shopping | Locking in Rates | Neighborhood Prices | Staging Checklist | Creative Financing | Site Map | Bi-weekly Pmt Calc | Fixed Rate Mtg Calc | 15 vs 30 Year Mtg Calc | ARM vs Fixed Rate Calc | Mortgage Qualifier Calc | Rent vs Buy Calc | Mortgage Calculators | Your Dream Home | 9 Steps to Ownership | How to Sell Your Home | Staging Your Home | Reasons homes don't sell | Be Accessible! | Buying Foreclosures/REO's | Types of Listing Contracts | The Listing Contract | Listing Commissions | Need a Bridge Loan? | Should you paint? | Plumbing and Fixtures | Role of the MLS | Ethics in Real Estate | Improvements That Pay | Selling One, Buying Another | Fixer Uppers | My Blog | Win $1000

Copyright © 2010 REMAX UNIVERSAL REAL ESTATE
Portions Copyright © 2010 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.



 
State:
County:
City:
Zip: