Securing financing is just one part of a real estate transaction. Coldwell-Banker Seacoast Realty is seasoned at helping both new and experienced buyers alike in all areas of real estate. Call us today at 910-202-3630 if your needs include a real estate pro experienced at the business side of buying and selling.


Are you thinking about financing your home in Wilmington?

For many people, applying for the mortgage loan is one of the more distressing elements of buying a home. But it doesn't have to be. Having connections to several mortgage lenders in Wilmington has helped me realize a few things that can make the process of applying for a loan easy.

1 – Organize a list of questions about your loan program

Make sure you have a list of questions with you if you find that you do not thoroughly understand the ins and outs of the different loan programs. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each one, because it is a challenge to understand the differences between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in an interest rate, the mortgage lender is guaranteeing the mortgage interest rates for the loan – typically at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Buyers who prefer to float presume interest rates will fall 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 interest rate

When you choose to pay additional points to lower the interest rate of your loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the loan. Click here to use our points calculator. This tool will help you decide if purchasing points is the best option for you.

4 – Bring your paperwork

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

Coldwell-Banker Seacoast Realty 1001 Military Cutoff Rd. Suite 101 Wilmington, NC 28405
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