
	Getting your mortgage is just one part of getting into a new home. 1776 Real Estate Group is experienced at helping both new and experienced buyers alike in all areas of real estate. Call us today at 804-565-1776 if your needs include a professional REALTOR^® ready for the business side of buying and selling.

Do you wish to finance a home in Richmond? 1776 Real Estate Group can help.

Stressed out about getting financing for a home purchase? You don't have to be. Being close to a lot of lending companies in the Richmond area has helped me realize a few things that make the process of applying for a loan uncomplicated.

1 – Create a list of questions about your loan program

Make sure you have a list of questions with you if you don't completely grasp the advantages and disadvantages of all the different loan programs. Oftentimes, it can be a challenge understanding the differences between fixed and adjustable rate mortgages. I or one of my lender contacts will help you understand the advantages and disadvantages of each one.

2 – Determine when you want to lock

When you lock in an interest rate, the mortgage lender is sure to commit to the interest rates for the loan – ordinarily at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Buyers who prefer to float conclude that 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 lower your interest rate

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

4 – Compile your paperwork

Acquiring a loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here to see typical questions you'll have to answer on a loan app.

1776 Real Estate Group 5 South Adams Richmond, VA 23220

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