
	Getting your loan locked down is just one part of a real estate transaction. Bob & Bev Allwine are experienced at helping both new and experienced buyers alike in all areas of real estate. Call us today at 248-348-3300 x 320 if your needs include a real estate pro ready for the business side of buying and selling.

Are you financing a home in southeast Michigan? RE/MAX Classic can help.

When buying a home, applying for a loan is very stressful for many people, but it doesn't have to be. Being connected to various lenders in Novi has helped me understand a lot of the things that will make the loan application process pretty simple.

1 – Organize a list of questions about your loan program

Be sure you bring a list of questions with you if you do not perfectly understand the advantages and disadvantages of the various programs. At times, it can be a challenge to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you in understanding the advantages and disadvantages of each program.

2 – Determine when you want to lock

Locking in an interest rate denotes that the mortgage lender commits to the interest rates for the loan – commonly at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for the loan and at the time of closing. Those who elect to float presume the interest rates will fall 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 rate

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

4 – Bring your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to get a feel for general information that goes on a loan application.

Contact Denise Moul
dmoul@eloan.com

All agents of RE/MAX Classic are licensed in the State of Michigan to do business in the State of Michigan per license law requirements setforth by the state requirements.

RE/MAX Classic - 26870 Beck Rd Novi, MI 48374
Bob & Bev Allwine - The Results Team
Office: 248-348-3300 Direct: 248-348-1429
Cell: 248-921-8011 Fax: 248-348-6877
E-mails: BobAllwine@Remax.net / BevAllwine@Remax.net