Applying for a Loan
New Bern NC Real Estate - EXIT Realty New Bern NC

For many buyers, applying for the mortgage loan is one of the more stressful aspects of buying a home. The loan application need not be a stressful time. By following a few easy steps, you'll sail through the loan application process.

  1. Make a list of any questions you have about the loan program.
    Be sure you understand the advantages and disadvantages of the various mortgage programs for which you may qualify, including the advantages and disadvantages of Fixed Rate Mortgages versus Adjustable Rate Mortgages.

  2. Decide if you want to lock-in or float the loan's interest rate.
    Locking-in the rate means that the lender commits to the mortgage interest rate for the loan - typically at the time the loan application is submitted. By floating the rate, you can lock-in the interest rate anytime between the loan application day and closing. Buyers opt to "float the loan" when they believe interest rates will drop after their loan application date and prior to closing. The risk is that rather than dropping, interest rates may rise, increasing the mortgage payment.

  3. Decide if you want to pay additional points to lower your interest rate.
    Typically you can elect to pay additional points (each point is 1 percent of the mortgage loan payable in cash at closing) to lower the interest rate of your mortgage loan.

  4. Gather your paperwork.
    Click here to view a list of typical loan documentation.

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New Bern Real Estate

New Bern North Carolina Real Estate. Find New Bern homes for sale, New Bern real estate agents, and New Bern home values. Get access to New Bern real estate listings, including the MLS, New Bern REALTORS, new homes and foreclosures. Our free real estate services feature all New Bern and North Carolina cities and suburbs. Find New Bern school district information, including elementary, middle and high school test scores, student faculty ratios and other k-12 statistics. We also have information on New Bern home selling, home buying and mortgages, movers and other realty services for anyone looking to sell a home or buy a home in New Bern, NC.
EXIT Homeplace Realty with five offices in Eastern North Carolina. Find homes by following these links: EXIT Realty Wilmington NC, EXIT Realty Burgaw NC, EXIT Homeplace Realty; Homeplace Realty Associates, Inc.; EXIT Real Estate Academy; Join EXIT Realty.


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