Securing financing is just one part of a home purchase. First Team Realty, LLC is seasoned at helping new and experienced in all areas of real estate. Call us today at (978) 250-1900 if your needs include a real estate pro experienced at the business side of real estate.

Are you thinking about financing your new home? First Team Realty, LLC can help.

When buying a home, the loan application is very troublesome for many people, but it doesn't have to be. We have close working relationships with some reputable lending companies, and they've helped us realize a few things that can make the loan application process pretty simple.

1 – Compose a list of questions regarding your loan program

Be sure to have a list of questions if you do not fully grasp the advantages and disadvantages of the different loan programs. It is a challenge to understand the characteristics of fixed and adjustable rate mortgages. One of our lender contacts or associates will be able to assist you in understanding the advantages and disadvantages of each.

2 – Determine when you want to lock

When you lock in the interest rate, your mortgage lender is guaranteed to hold 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 application and at the time of closing. Those who prefer to float conclude the interest rates will dip 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 rate

When you choose to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. If you're undecided as to whether or not purchasing points is right for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to get a feel for normal information that goes on a loan application.

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