
	Getting your mortgage is just one aspect of a home purchase. Bice Realty is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR^® ready for the business side of real estate.

Are you financing a new home in Plano?

Stressed out about applying for a mortgage? You don't have to be. Being familiar with several lending companies in the Plano area has helped me realize a lot of the things that make the loan application process uncomplicated.

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

If you do not thoroughly comprehend the ins and outs of all the different programs, make sure you have a list of questions with you. I or one of my lender contacts can assist you in understanding the advantages and disadvantages of each one, because it's hard to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the interest rate, it denotes that a mortgage lender holds to the mortgage interest rates for the loan – often at the time the loan application is received. By floating the rate, you can lock the rate anytime between application and at the time of closing. Buyers who choose to float think 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 lower your rate

Normally you can opt to pay additional points to lower the interest rate of your loan. Every 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 decide if buying points is right for you.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to preview common information that goes on a loan application.