Thinking about financing a home in Rock Hill? Petrovich Realty can help.

Applying for the loan is one of the most distressing elements of purchasing a house, but it doesn't have to be. Being close to several lenders in the Rock Hill area has helped me understand some things that will make the process of applying for a loan easy.

1 – Put together a list of questions regarding your loan program

If you find that you don't completely understand the advantages and disadvantages of all the different loan programs, be sure you have a list of questions with you. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of both programs, because it is hard to know the characteristics of fixed and adjustable rate mortgages.

2 – Determine when to lock

Locking in denotes that the lender keeps to the mortgage interest rates for the loan – commonly at the time the loan application is received. By floating the rate, you can lock the rate anytime between the loan application day and closing. Buyers who choose to float conclude that interest rates will plunge 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

Typically you can decide to pay additional points to lower the rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. If you're unsure as to whether or not buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to get a list of common loan documentation.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

Your Information
Some Details