Getting your loan locked down is just one part of a real estate transaction. Atlantic Residential Realty is experienced at aiding new and experienced in all areas of real estate. Call us today at 704-510-0440 if your needs include a real estate pro ready for the business side of real estate.

Are you looking to finance a new home in Charlotte?

Securing a mortgage loan can be one of the most demanding aspects of buying a house. But it doesn't have to be. I have close business relationships with several mortgage lenders in Charlotte, and they've helped me learn a few things that can make the loan application process effortless.

1 – Compose a list of questions regarding your loan program

Be sure you bring a list of questions with you if you do not totally understand the ins and outs of all the different programs. I or one of my lender contacts will assist you with understanding the advantages and disadvantages of both programs, because it is hard to understand the differences between both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in a rate, your lender is sure to commit to the mortgage interest rates for the loan – normally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Those who decide to float believe the interest rates will drop in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Decide if you want to pay additional points to lower your interest rate

Usually you can decide to pay additional points to lower the rate of your loan. Every point is 1 percent of the loan and is payable in cash at closing. To decide if buying points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Getting a loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here to see typical information that goes on a loan application.