Financing

Closing Costs

Choosing the right home is just one part of the home sale or purchase. Revolution Realty is experienced at assisting both buyers and sellers with closing procedures. Call our New Orleans-area realtors today at (504) 309-7224 if you need assistance in buying or selling a home in Metairie, Kenner, New Orleans, Gretna / West Bank, or the Mississippi Gulf Coast.

What closing costs should you expect?

How Escrow Works

Whether you are buying your first house or your next house, we will assist you through the process. Contact Revolution Realty's knowledgeable New Orleans-area real estate brokers (504) 309-7224 and we will help you become a well-informed buyer.

The Place is Almost Yours

The Cost of Your Mortgage Loan - Locking-in-the Rate

When shopping for a mortgage, the lender may give you a quote for the mortgage interest rate and points (additional fees charged by the lender usually paid at closing by the borrower). This only represents the terms available at the time of the quote. They may not be available at the time of the closing date (which may be weeks or months away). To ensure that the rate and points are the same at closing as they are when quoted, you will need to lock-in the interest rate (also known as a rate lock or rate commitment).

Here are a few pointers to consider when locking-in the rate:

Your Fico Score

How's Your Score?

Choosing a lender to finance your home isn't the first step in becoming a homeowner. To realize your goal of owning your own home, you need to look at your FICO score as well as the type of loan you will qualify for.

The Fair Isaac Company calculates your FICO score on the summary of your complete credit history. The score ranges from 300 to 850, with the average score around 600.

Factors used in determining your FICO score include: