Getting your mortgage is just one aspect of a real estate transaction. Word Properties Group is seasoned at aiding new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR® ready for the business side of real estate.

Applying for your loan

When buying a home, the loan application is distressing for many people, but it doesn't have to be. We've got great connections to a lot of lenders in Middle Tennessee, and they've helped us recognize a few things that will make the process of applying for a loan effortless.

1 – Compile a list of questions about your loan program

Make sure you bring a list of questions if you find that you do not thoroughly understand the pros and cons of the different loan programs. One of our lenders or staff will be able to assist you in understanding the advantages and disadvantages of each program, because it can be hard to understand the differences between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in an interest rate, the mortgage lender is guaranteed to keep to the interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Those who elect to float think that interest rates will decline in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Gather your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to preview common information that goes on a loan application.