Getting your loan locked down is just one aspect of a real estate transaction. Marx-Bensdorf, REALTORS is seasoned at assisting new and experienced in all areas of real estate. Call us today at 901-682-1868 if your needs include a professional REALTOR® experienced at the business side of real estate.


Do you wish to finance a home? Marx-Bensdorf, REALTORS can help.

When buying a home, applying for the mortgage loan is demanding for most people, but it doesn't have to be. I have excellent relationships with several lending companies in Memphis, and they've helped me realize some things that can make the process of applying for a loan pretty simple.

1 – Compose a list of questions regarding your loan program

If you do not totally realize the pros and cons of all the different programs, be sure you have a list of questions with you. It's a challenge to know the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts will be able to assist you in understanding the advantages and disadvantages of both.

2 – Determine when to lock

By locking in an interest rate, the lender is committing to the interest rates for the loan – ordinarily at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day of your loan application and closing. Buyers who opt to float believe the interest rates will plunge 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 reduce your rate

When you decide to pay additional points to lower the rate of your loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the mortgage loan. If you're uncertain as to whether or not purchasing points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to see general questions you'll have to answer on a loan app.

Marx-Bensdorf, REALTORS 5860 Ridgeway Center Pkwy #100 Memphis, TN 38120
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