6. Get Financing
Often the cost of real estate financing is routinely greater than the original purchase price of a home (after including interest and closing costs). Because financing is so important, home buyers should have as much information as possible regarding mortgage options and costs available to them in the Lafayette, Louisiana or surrounding Acadiana Area (Abbeville, Arnaudville, Breaux Bridge, Broussard, Carencro, Crowley, Duson, Eunice, Kaplan, Lafayette, New Iberia, Opelousas, Rayne, Scott, Youngsville).
Many of our Local Lenders provide consumers with extensive mortgage information as well as a variety of loan calculators. Kevin Rose your local REALTOR® and licensed Loan Officer can provide mortgage information and referrals to lenders he knows and trust to get your new home purchase or sale to the closing table. In addition, Kevin also originates loans.
What kind of loan?
There are thousands of loans available out there, but in general, the mortgage you choose will likely be determined by at least several key factors:
How do you get a loan?
To obtain a loan you must complete a written loan application and provide supporting documentation. Specific documents include recent pay stubs, rental checks and tax returns for the past two or three years if you are self-employed. During the prequalification procedure, your local loan officer will describe the type of paperwork required.
Where do you get a loan?
Mortgage financing can be obtained from mortgage bankers, mortgage brokers, savings and loan associations, mutual savings banks, commercial banks, credit unions, and insurance companies. A growing number of REALTORS® can also arrange financing.
For more information:
Next: Making the Offer