
	Securing financing is just one part of a real estate transaction. Nancy Scarola Real Estate, Inc. is experienced at helping both new and experienced buyers alike in all areas of real estate. Call us today at 516-546-7503 if your needs include a professional REALTOR^® experienced at the business side of buying and selling.

Do you want to finance your home in Baldwin?

Stressed out about getting financing for a home purchase? You don't have to be. I have close working relationships with various lenders in the Baldwin area, and they've helped me understand a few things that will make the process of applying for a loan easy.

1 – Compose a list of questions about your loan program

Be sure you bring a list of questions if you don't perfectly comprehend the pros and cons of the different programs. It is often a challenge understanding the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts will be able to assist you in understanding the advantages and disadvantages of each program.

2 – Decide when you want to lock

When you lock in the rate, your mortgage lender is guaranteed to keep to the interest rates for the loan – normally at the time the loan application is received. By floating the rate, you can lock the rate at any time between application and at the time of closing. Buyers who decide to float conclude that the interest rates will drop 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

When you opt to pay additional points to lower the rate of your loan, you'll pay for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. If you're uncertain as to whether or not buying points is right for you, click here to use our points calculator.

4 – Bring your paperwork

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