Better Homes & Gardens/The Masiello Group
Beth Rohde Campbell
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Securing financing is just one aspect of a home purchase. Better Homes and Gardens/The Masiello Group is experienced at aiding both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® experienced at the business side of buying and selling.

Applying for your a loan to purchase your new Seacoast New Hampshire Home

When buying a home, applying for a loan is troublesome for many people, but it doesn't have to be. Being connected to many mortgage lenders in the local Seacoast area has helped me understand some things that will make the loan application process a breeze.

1 – Compose a list of questions regarding your loan program

If you find that you don't completely understand the ins and outs of the different programs, make sure you bring a list of questions with you. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of both programs, because it is a challenge to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in an interest rate designates that your lender keeps to the mortgage 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 day you apply for your loan and the issuing of closing documents. Buyers who opt to float conclude that interest rates will decline 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 rate

When you choose to pay additional points to lower the rate of your mortgage loan, you'll pay for them in cash at closing. Each point is 1 percent of the mortgage loan. To determine if purchasing points is right for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should take some time to get all your documents together. Click here to preview general questions you'll have to answer on a loan app.