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 and be ready to buy a Marin Home of your choice!
I work with several reputable, excellent mortgage brokers specializing in Marin and Sonoma real estate mortgages. Just give me a call (415) 717-0293 or email me with your request and I will be very happy to provide you with their contact information. You can interview them until you find the right mortgage broker for you.
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.
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.
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.
Sylvia Barry provides professional Real Estate Consulting for Marin Home Sellers or Buyers - Novato, San Rafael, Corte Madera, Kentfield, Mill Valley, Ross, Belvedere, Tiburon, Greenbrae, Larkspur, Marinwood, Nicasio, San Anselmo; as well as Sonoma County Sonoma Real Estate Consulting - Petaluma, Rohnert Park, Cotati, Santa Rosa, Penngrove. Marin County Real Estate, Marin County Homes, Marin County Home, Marin County Houses, Marin County House,
REO, Bank Owned, Foreclosures, Asset Preservation, Chinese Realtor, Chinese Real Estate Agent,
Chinese Speaking, Mandarin Speaking
Luxury Property, Horse Property, Water View Homes, Single Family Homes, Starter Homes, Condos/Townhomes, Investment Property, 1031 Exchange, Relocation, Land, Rental Property, Eichler Homes, Lagoon Homes, On Water, Open Space, Senior Service, Ocean View, First Time Home Buyer, REO, Bank Owned, Foreclosures, Asset Preservation, Distressed Property
