Securing financing is just one aspect of a home purchase. Realty Associates RI Properties LLC is experienced at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® ready for the business side of real estate.


Are you thinking about financing a home in Rhode Island? Realty Associates RI Properties LLC can help.

When purchasing a home, applying for a mortgage loan is very demanding for many people, but it doesn't have to be. Being familiar with some lenders in Cranston has helped me recognize a lot of the things that can make the loan application process uncomplicated.

1 – Compose a list of questions about your loan program

Make sure you have a list of questions with you if you find that you don't fully grasp the advantages and disadvantages of all the various programs. At times, it can be a challenge to know the characteristics of both fixed and adjustable rate mortgages. I or one of my trusted lenders will help you understand the advantages and disadvantages of each program.

2 – Decide when you want to lock

When you lock in the interest rate, your mortgage lender is sure to keep to the interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Buyers who opt to float conclude that the interest rates will dip 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

If you decide to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at closing. Every point is 1 percent of the loan. Click here to use our points calculator. It will help you determine if purchasing points is right for you.

4 – Bring your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to preview common information that goes on a loan application.

Realty Associates RI Properties LLC 481 Atwood Avenue Cranston, RI 02920-5745
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