Let The Williamson Group Realty, Inc. help you finance a new home.

When buying a home, applying for the mortgage loan is very stressful for most people, but it doesn't have to be. I'm close with many lending companies in Arcadia, and they've helped me recognize some things that make the loan application process a snap.

1 – Put together a list of questions regarding your loan program

Make sure to bring a list of questions with you if you find that you do not completely understand the pros and cons of all the different loan programs. It can be a challenge understanding the distinctions between both fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of both programs.

2 – Determine when to lock

Locking in means that the mortgage lender keeps to the interest rates for the loan – most often at the time the loan application is received. By floating the rate, you can lock the rate anytime between application and closing. Buyers who elect to float believe 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 lower your rate

Normally you can opt to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. If you're unsure if buying points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

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