Getting your mortgage is just one part of a home purchase. Preferred Real Estate Services is experienced at helping 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.


Applying for a home loan in Seattle

Feeling lots of anxiety over getting financing for a home purchase? You don't have to be. I've got great connections to many lending companies in Seattle, and they've helped me realize a few things that will make the process of applying for a loan very easy.

1 – Organize a list of questions about your loan program

Be sure to have a list of questions with you if you find that you don't completely understand the pros and cons of all the different programs. It is hard to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you in understanding the advantages and disadvantages of each one.

2 – Decide when you want to lock

When you lock in the rate, it indicates that a lender commits to the mortgage interest rates for the loan – usually at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Buyers who opt to float conclude interest rates will decline in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to lower your interest rate

If you opt 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. It will help you determine if purchasing points is right for you.

4 – Gather your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get all your documentation together. Click here to see general information that goes on a loan application.
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