
	To find out what mortgage program is right for you call Donn Williamson with Benchmark Mortgages and find out how much house you qualify for. 843-216-8997 office or 843-452-4577 cell or email her at donna.williamson@benchmark.us

Thinking of financing a home?

For most people, securing a loan can be one of the more demanding aspects of buying a home. But it doesn't have to be. Being close to some lenders in the Mount Pleasant area has helped me realize some things that can make the loan application process very easy.

1 – Compile a list of questions about your loan program

Be sure to bring a list of questions with you if you do not completely understand the advantages and disadvantages of all the different programs. Oftentimes, it can be a challenge understanding the characteristics of both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you in understanding the advantages and disadvantages of each.

2 – Decide when to lock

Locking in an interest rate means that a lender guarantees the interest rates for the loan – generally at the time the loan application is received. By floating the rate, you can lock the rate anytime between the loan application day and the issuing of closing documents. Those who opt to float think that the 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 decrease your interest rate

Usually you can choose to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. If you're uncertain if buying points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should take some time to get your documents together. Click here to get a feel for general questions you'll have to answer on a loan app.

Ann Essig-Marconi - Specializing in downtown Charleston properties. Whether buying of selling a home I have the experience and knowledge of the area to help you achieve the goal of real estate ownership. Call or text Ann @ 843-568-0390