Securing financing is just one aspect of a real estate transaction. Red Hat Realty and Auction is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Call us today at (270) 389-0370 if your needs include a real estate pro experienced at the business side of real estate.


Thinking about financing a home? Red Hat Realty and Auction can help.

When buying a home, applying for the mortgage loan is stressful for many people, but it doesn't have to be. I've got great connections to many lenders in the Morganfield area, and they've helped me understand some things that will make the process of applying for a loan uncomplicated.

1 – Assemble a list of questions regarding your loan program

Make sure you bring a list of questions with you if you find that you do not entirely comprehend the ins and outs of the various programs. I or one of my trusted lenders will help you understand the advantages and disadvantages of both programs, because it is hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in a rate, the mortgage lender is sure to hold to the interest rates for the loan – generally at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for the loan and at the time of closing. Buyers who opt to float think that interest rates will dip 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 reduce your rate

Normally you can decide to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. Click here to use our points calculator. This tool will help you decide if buying points is right for you.

4 – Bring your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to see typical information that goes on a loan application.