Looking to finance a home in ?

When purchasing a home, applying for the mortgage loan is a very troublesome event for many people, but it doesn't have to be. I'm very well-connected with a lot of lending companies in the area, and they've helped me recognize a few things that will make the loan application process pretty simple.

1 – Compile a list of questions about your loan program

Make sure you have a list of questions if you find that you don't completely realize the pros and cons of the different loan programs. I or one of my trusted lenders will assist you in understanding the advantages and disadvantages of both programs, because it is hard to understand the differences between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

By locking in the rate, a lender is committing to the interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day of your loan application and the issuing of closing documents. Buyers who elect to float think that 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

When you decide to pay additional points to lower the rate of your loan, you'll do so by paying for them in cash at the time of closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will assist you in determining if purchasing points is right for you.

4 – Gather your paperwork

Getting a loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here for a list of common loan documentation.

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