Securing financing is just one part of getting into a new home. Exit Hometown Realty is experienced at aiding both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® experienced at the business side of real estate.


Are you going to finance your home in Maggie Valley?

When buying a home, applying for a mortgage loan is exasperating for many people, but it doesn't have to be. I have close business relationships with a lot of lenders in the Maggie Valley area, and they've helped me understand some things that make the loan application process a breeze.

1 – Organize a list of questions regarding your loan program

If you find that you don't perfectly realize the pros and cons of the different financing options, be sure you have a list of questions. It is often a challenge understanding the differences between both fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of each.

2 – Determine when you want to lock

Locking in an interest rate means that a mortgage lender holds to the mortgage interest rates for the loan – normally at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for the loan and the issuing of closing documents. Those who elect to float believe that 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 decrease your rate

When you decide to pay additional points to lower the interest rate of your loan, you'll pay for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. To determine if you should buy points, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to see typical information that goes on a loan application.

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