Mewborn Team Real Estate Consultants: CoastalLuxurySanDiego.com

July 18th, 2009

Five Tips for Negotiating Your Next Carlsbad Mortgage

Categories: Buyers, Interest Rates, Relocation, Sellers

Obtaining a mortgage or refinance in Carlsbad, CA is something most dread.  It can be overwhelming, time consuming, and unless done properly, can be very costly.

Before you apply for your next Carlsbad mortgage, consider this advice:

1. Ask for the good faith estimate early.  Ask the mortgage representative to fill it out completely – with the estimated Carlsbad interest rates and closing costs.

2. Ask what you need to do to “lock your rate” and how long the rate lock will last.  Lenders will charge a fee to cover the risk of a change in interest rates between the time you start your transaction and the time the transaction closes.  Normally the longer you want to lock the rate, the higher the potential fees.

3. Ask your Realtor or Financial Advisor to look over your Good Faith Estimate.  There are SO many moving parts in your real estate transaction.  Ask your professionals to check each other.  Checks and balances only protect you – the consumer.

If you have any questions about Carlsbad, La Costa, San Elijo, or other north county coastal real estate or mortgages, please contact us.  We are always happy to help.

Posted by Mike and Amy Mewborn//