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Getting your mortgage is just one part of getting into a new home. Carter Realty Company is experienced at helping both new and experienced buyers alike in all areas of real estate. Call us today at (870) 733-1600 if your needs include a professional REALTOR® experienced at the business side of real estate.


Thinking about financing your home in West Memphis? Carter Realty Company can help.

When buying a home, applying for the loan is very stressful for most people, but it doesn't have to be. Being close to several mortgage lenders in the West Memphis area has helped me understand a lot of the things that make the process of applying for a loan a breeze.

1 – Make a list of questions about your loan program

Be sure to have a list of questions with you if you find that you don't fully grasp the pros and cons of all the various loan programs. At times, it can be hard to know the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each.

2 – Decide when to lock

When you lock in a rate, it signifies that a lender holds to the interest rates for the loan – most often at the time the loan application is received. By floating the rate, you can lock the rate anytime between the loan application day and at the time of closing. Buyers who choose to float conclude 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 lower your rate

If you elect to pay additional points to lower the rate of your mortgage loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will assist you in deciding if buying points is right for you.

4 – Bring your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to get a feel for typical information that goes on a loan application.