Let The Williamson Group Realty, Inc. assist you with applying for a home loan in Arcadia.

Most people believe that applying for a loan is one of the most demanding parts of buying a house, but it doesn't have to be. I have a close business relationship with some lenders in Arcadia, and they've helped me realize some things that can make the loan application process effortless.

1 – Organize a list of questions about your loan program

Make sure you bring a list of questions if you do not totally comprehend the pros and cons of the different programs. I or one of my lenders can assist you in understanding the advantages and disadvantages of each program, because it can be hard to know the differences between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in the interest rate, your lender is holding to the mortgage interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Those who decide to float presume interest rates will fall 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 decrease your rate

When you decide to pay additional points to lower the rate of your loan, you'll pay for them in cash at closing. Every point is 1 percent of the mortgage loan. To determine if buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

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