
	Getting your loan locked down is just one part of a real estate transaction. Lori Shaw is experienced at helping new and experienced buyers in all areas of real estate. Contact me if your needs include a real estate professional experienced at the business side of real estate.

Are you looking to finance a new home?

When buying a home, applying for a loan is very distressing for most people, but it doesn't have to be. Being familiar with several mortgage lenders in our local area has helped me understand a few things that make the process of applying for a loan easy.

1 – Create a list of questions about your loan program

If you find that you don't entirely understand the advantages and disadvantages of all the various financing options, make sure you bring a list of questions with you. I or one of my trusted lenders can help you understand the advantages and disadvantages of each one, because it's hard to know the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in an interest rate, a lender is sure to hold to the interest rates for the loan – usually at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and the issuing of closing documents. Buyers who opt to float conclude that the interest rates will fall 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 lower your interest rate

When you choose to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at the time of closing. Each point is 1 percent of the loan. If you're unsure if purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to preview normal questions you'll have to answer on a loan app.

Mortgage Calculator:

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Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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Are you looking to finance a new home?

1 – Create a list of questions about your loan program

2 – Determine when to lock

3 – Determine if you want to pay additional points to lower your interest rate

4 – Gather your paperwork

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