Getting your loan locked down is just one aspect of a real estate transaction. McAtee Realty (Cedar Creek Lake) is experienced at helping both new and experienced buyers alike in all areas of real estate. Call us today at (903) 887-5658 if your needs include a professional REALTOR® experienced at the business side of real estate.

Are you financing your new home? McAtee Realty (Cedar Creek Lake) can help.

Feeling lots of anxiety over applying for a mortgage? You don't have to be. We've got great connections to many mortgage lenders in the Gun Barrel City area, and they've helped us realize a few things that can make the process of applying for a loan easy.

1 – Compile a list of questions regarding your loan program

Make sure to bring a list of questions with you if you do not completely grasp the pros and cons of all the different programs. It is often a challenge to understand the characteristics of fixed and adjustable rate mortgages. One of our trusted lenders or associates will be able to assist you with understanding the advantages and disadvantages of each.

2 – Decide when to lock

Locking in the interest rate designates that a lender commits to the interest rates for the loan – normally at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Those who choose to float think that interest rates will fall 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

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

4 – Bring your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to get a feel for normal questions you'll have to answer on a loan app.