Are you thinking of financing your home in Dallas? Jean Pasvar, Realtor-William Davis Realty can help.

For many people, applying for financing is one of the most troublesome parts of purchasing a house, but it doesn't have to be. I have a close business relationship with various lenders in the Dallas area, and they've helped me learn a few things that will make the loan application process pretty simple.

1 – Organize a list of questions regarding your loan program

Be sure you have a list of questions if you don't fully comprehend the advantages and disadvantages of the various programs. It is often hard to know the differences between fixed and adjustable rate mortgages. I or one of my lenders will assist you in understanding the advantages and disadvantages of each program.

2 – Decide when to lock

When you lock in a rate, it means that your lender holds to the interest rates for the loan – typically at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for the loan and issuance of closing documents. Those who elect to float think that the interest rates will plunge 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

If you opt to pay additional points to lower the rate of your loan, you'll pay for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will assist you in deciding if buying points is right for you.

4 – Bring your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get all your documents together. Click here for a list of common loan documentation.

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