
	Securing financing is just one part of a real estate transaction. Carolina One Real Estate is experienced at helping 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 new home loan with the help of Carolina One Real Estate

When purchasing a home, applying for financing is very stressful for many people, but it doesn't have to be. Being connected to several lending companies in Charleston has helped me realize a lot of the things that can make the process of applying for a loan much easier.

1 – Assemble a list of questions about your loan program

Make sure to have a list of questions if you do not thoroughly comprehend the advantages and disadvantages of the different programs. I or one of my lenders will assist you with understanding the advantages and disadvantages of both programs, because it's hard to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when to lock

Locking in the rate means that a mortgage lender holds to the mortgage interest rates for the loan – generally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Those who opt to float presume the interest rates will plunge 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 reduce your rate

Oftentimes you can choose to pay additional points to lower the rate of your mortgage 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. It will assist you in deciding if purchasing points is the best option for you.

4 – Compile your paperwork

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

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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