
	Getting your mortgage is just one part of getting into a new home. EXIT Upstate Realty is experienced at helping new and experienced in all areas of real estate. Call us today at 864-235-0209 if your needs include a real estate pro ready for the business side of buying and selling.

Are you financing your home in Greenville?

When purchasing a home, applying for financing is very demanding for most people, but it doesn't have to be. Having connections to various mortgage lenders in Greenville has helped me learn a few things that will make the loan application process pretty simple.

1 – Compose a list of questions about your loan program

If you find that you do not thoroughly realize the ins and outs of the different programs, make sure you have a list of questions. I or one of my lenders will be able to assist you in understanding the advantages and disadvantages of each one, because it is hard to understand the differences between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in the rate, a lender is sure to hold to the interest rates for the loan – commonly at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the loan application day and issuance of closing documents. Buyers who choose to float believe that interest rates will fall 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 decrease your interest rate

Oftentimes you can opt 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. If you're uncertain if purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to get a feel for normal questions you'll have to answer on a loan app.