Getting your mortgage is just one part of a home purchase. Dale Barr is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Call us today at (703) 730-2272 if your needs include a professional REALTOR® ready for the business side of real estate.
Do you wish to finance your new home? Dale Barr can help.
Feeling lots of anxiety over applying for a mortgage? You don't have to be.
Being connected with some lending companies in the Montclair area has helped me understand a lot of the things that can make the loan application process pretty simple.
1 – Assemble a list of questions regarding your loan program
If you find that you do not totally realize the advantages and disadvantages of all the various financing options, make sure to bring a list of questions with you.
I or one of my trusted lenders will assist you in understanding the advantages and disadvantages of each one, because it can be a challenge to understand the characteristics of both fixed and adjustable rate mortgages.
2 – Decide when you want to lock
Locking in a rate denotes that the lender guarantees the mortgage interest rates for the loan – normally at the time the loan application is submitted.
By floating the rate, you can lock the rate anytime between the day you apply for the loan and at the time of closing. Buyers who elect to float believe interest rates will dip 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 reduce your interest rate
Normally you can decide to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the loan and is payable in cash at the time of closing.
Click here to use our points calculator. This tool will help you determine if purchasing points is right for you.
4 – Bring your paperwork
Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to see general information that goes on a loan application.
DALE BARR PH: 703 730 2272 is a Licensed Agent with BARCO Ph:/Fax: 703 730 2272 15786 Moncure Ct. Montclair, Virginia 22025
