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What is an APR?

What documents do I need to prepare for my loan application?

What does it mean to lock the interest rate?

What are points?

Should I pay points to lower my interest rate?

If you intend to remain in the property for a few years, paying discount points to lower the interest rate on your loan is typically a wise decision. Doing so can lower your monthly mortgage payment and potentially increase the amount of money you can borrow. Nevertheless, if you plan on living in the property for only a year, the monthly savings may not be sufficient to recover the upfront cost of the discount points you paid. Therefore, it’s important to consider your long-term goals before deciding to pay discount points to reduce your loan’s interest rate.

Reach out and we can review your specific scenario to see if paying points to lower your interest rate makes sense.

What is an appraisal?

What happens during underwriting?

What is a conditional approval?

What does "clear to close" mean?

What happens at closing?

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