Securing financing is just one part of a home purchase. GEORGE BALDWIN LLC, REALTORS® is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® ready for the business side of real estate.

Thinking of financing your home? GEORGE BALDWIN LLC, REALTORS® can help.

When purchasing a home, the mortgage loan application is very exasperating for many people, but it doesn't have to be. We have excellent relationships with many mortgage lenders in the Erie area, and they've helped us understand a few things that can make the process of applying for a loan easy.

1 – Compile a list of questions about your loan program

If you do not thoroughly comprehend the advantages and disadvantages of all the various financing options, make sure to bring a list of questions. It can be a challenge to know the characteristics of fixed and adjustable rate mortgages. One of our trusted lenders or associates will assist you in understanding the advantages and disadvantages of each one.

2 – Determine when to lock

By locking in a rate, the mortgage lender is keeping to the interest rates for the loan – commonly at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between application and at the time of closing. Those who prefer to float conclude the interest rates will dip 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 decrease your interest rate

Typically you can elect to pay additional points to lower the interest rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at closing. To determine if purchasing points is right for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to preview normal information that goes on a loan application.

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