Getting your mortgage is just one aspect of a home purchase. Jeanie Elliott Inc. REALTORS, ABR, ALHS, CHMS, SRES, SFR, BPOR, M.S. BUSINESS is seasoned at assisting new and experienced in all areas of real estate. Contact me if your needs include a professional REALTOR® experienced at the business side of real estate.

Are you thinking of financing a home in Frisco?

When buying a home, the loan application is very troublesome for a lot of people, but it doesn't have to be. Having connections with many mortgage lenders in the Frisco area has helped me realize a lot of the things that will make the process of applying for a loan much easier.

1 – Create a list of questions about your loan program

If you find that you do not thoroughly comprehend the ins and outs of the various financing options, make sure to have a list of questions with you. One of my lender contacts or I will be able to assist you in understanding the advantages and disadvantages of each program, because it is hard to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in an interest rate, the mortgage lender is guaranteed to commit to the interest rates for the loan – generally at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Those who opt to float think that the interest rates will decline 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 interest rate

Typically 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 the time of closing. To decide if you should purchase points, click here to use my points calculator.

4 – Bring your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to see general information that goes on a loan application.

Today's Rates

Mtg Loan Rate APR
30-yr Fixed 4.17% 4.21%
15-yr Fixed 3.62% 3.69%
1-yr Adj 3.78% 3.8%
* national averages
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