Securing financing is just one aspect of a home purchase. John Easterling - Coldwell Banker/Coastal Rivers Realty is seasoned at aiding new and experienced in all areas of real estate. Call us today at (252) 943-7813 if your needs include a professional REALTOR® experienced at the business side of real estate.


Are you thinking about financing a home? John Easterling - Coldwell Banker/Coastal Rivers Realty can help.

Securing a loan is one of the most distressing parts of buying a home. But it doesn't have to be. I have close working relationships with a lot of mortgage lenders in the Washington area, and they've helped me learn some things that can make the loan application process very manageable.

1 – Compile a list of questions about your loan program

If you find that you do not completely comprehend the pros and cons of all the various financing options, make sure you have a list of questions with you. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each program, because it is hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in an interest rate, your lender is guaranteed to commit to the mortgage interest rates for the loan – most often at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the loan application day and at the time of closing. Those who prefer to float think that interest rates will decline 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 decrease your interest rate

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

4 – Gather your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should take some time to get your documents together. Click here to see common information that goes on a loan application.

Looking to Buy?

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John Easterling - Coldwell Banker Coastal Rivers Realty

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