Securing financing is just one part of getting into a new home. The Master's Real Estate Group is experienced at helping new and experienced in all areas of real estate. Call us today at 719.457.9200 if your needs include a professional REALTOR® ready for the business side of real estate.


Are you financing a home?

Stressed out about applying for a mortgage? You don't have to be. I have close relationships with some reputable lending companies in Colorado Springs, and they've helped me understand some things that will make the loan application process uncomplicated.

1 – Make a list of questions about your loan program

Be sure you have a list of questions if you don't fully grasp the pros and cons of all the various loan programs. Oftentimes, it can be a challenge to understand the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts will help you understand the advantages and disadvantages of each program.

2 – Decide when to lock

By locking in a rate, your lender is committing to the interest rates for the loan – typically at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and issuance of closing documents. Buyers who elect to float conclude the 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 lower your interest rate

Usually you can choose to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will help you decide if purchasing points is right for you.

4 – Compile your paperwork

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

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