Are you thinking of financing your new home in Paris? NE TEXAS REALTY GROUP can help.

Applying for the mortgage loan is one of the most demanding parts of buying a home, but it doesn't have to be. Being close to some lenders in the Paris area has helped me learn some things that will make the loan application process a breeze.

1 – Organize a list of questions regarding your loan program

Be sure to have a list of questions with you if you find that you do not entirely comprehend the ins and outs of the various programs. It is often a challenge understanding the distinctions between both fixed and adjustable rate mortgages. I or one of my lender contacts will be able to help you understand the advantages and disadvantages of each.

2 – Determine when you want to lock

When you lock in an interest rate, your mortgage lender is sure to keep to the interest rates for the loan – often at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for your loan and issuance of closing documents. Those who elect to float presume that 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 rate

If you decide to pay additional points to lower the rate of your loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. Click here to use our points calculator. It will help you determine if purchasing points is right for you.

4 – Compile your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting your documents together. Click here for a list of common loan documentation.

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