Thinking about financing a new home? IREAF, LLC can help.

When purchasing a home, applying for financing is a very exasperating event for many people, but it doesn't have to be. Having connections with several lenders in the Austin area has helped me recognize some things that make the process of applying for a loan easy.

1

Put together a list of questions regarding your loan program
If you do not completely realize the pros and cons of the various loan programs, be sure you have a list of questions with you. I or one of my lender contacts will be able to help you understand the advantages and disadvantages of both programs, because it's hard to understand the distinctions between fixed and adjustable rate mortgages.

2

Decide when you want to lock
Locking in indicates that the lender keeps to the mortgage interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Those who opt to float conclude that the 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 reduce your rate
Typically you can elect to pay additional points to lower the rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will help you determine if buying points is the best option for you.

4

Gather your paperwork
Acquiring a loan requires lots of paperwork, so you should take some time to get your documents together. Click here for a list of general loan documentation.

See how IREAF, LLC can help with your real estate needs!

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IREAF, LLC

IREAF, LLC

Ins/Real Est Adv & Fac, LLC

Our office is located at 7600 Chevy Chase Drive Building #2 #Suite 300.
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