Chenette Real Estate
Home Property Search Broker Listings Results for You! Why Choose Me? Contact Me
Securing financing is just one part of a real estate transaction. I'm experienced at helping both new and experienced buyers alike. Call me today at (802) 264-1888 if you'd like some ideas about how to get the BEST mortgage by deciding which mortgage PROGRAM is best for you, rather than simply shopping for a mortgage RATE. I can also help you avoid the WRONG mortgage, and explain why we have so few foreclosures in Vermont.

looking for a mortgage in the greater Burlington area, or Northwest VT?

For many people, securing mortgage financing is one of the most distressing parts of purchasing a home. But it doesn't have to be. I have excellent relationships with many lenders in the area, and they've helped me realize some things that can make the process of applying for a loan a snap.

1 – Assemble a list of questions about your loan program

FHA? VHFA? CONVENTIONAL? VA? CLOSING COSTS? DOWN PAYMENT? PROPERTY TRANSFER TAX? Make sure you bring a list of questions if you find that you do not totally grasp the ins and outs of the different loan programs. It is hard to understand the distinctions between both fixed and adjustable rate mortgages. One of my lenders or I will be able to assist you with understanding the advantages and disadvantages of each one.

2 – Decide when you want to lock

When you lock in a rate, it denotes that the lender commits to the mortgage interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for your loan and at the time of closing. Buyers who prefer to float presume the 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 interest rate

Often you can elect to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. If you're undecided as to whether or not purchasing points is right for you, click here to use my points calculator.

4 – Gather your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to preview typical questions you'll have to answer on a loan app.