Securing financing is just one aspect of getting into a new home. Fidelity Realty Group is seasoned at assisting new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR® experienced at the business side of real estate.

Applying for your home loan in San Antonio

When purchasing a home, applying for financing is very stressful for many people, but it doesn't have to be. I have close professional relationships with various lenders in San Antonio, and they've helped me learn some things that can make the loan application process very manageable.

1 – Organize a list of questions about your loan program

If you don't fully understand the pros and cons of all the various programs, make sure to bring a list of questions with you. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of each program, because it can be a challenge to know the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the interest rate, it designates that the lender holds to the interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for your 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 decrease your interest rate

When you choose to pay additional points to lower the rate of your loan, you'll pay for them in cash at closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will help you decide if purchasing points is the best option for you.

4 – Bring your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to see typical information that goes on a loan application.