
	Getting your loan locked down is just one part of getting into a new home. Rose Cottage Realty is experienced at helping new and experienced in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.

Are you thinking of financing a home?

Stressed out about applying for a mortgage? You don't have to be. I have excellent relationships with a lot of lenders in the Whittier area, and they've helped me recognize a few things that will make the loan application process effortless.

1 – Make a list of questions about your loan program

Be sure to have a list of questions if you find that you do not completely understand the advantages and disadvantages of the various programs. It's hard to understand the differences between fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of both.

2 – Decide when you want to lock

When you lock in the rate, the lender is guaranteed to hold to the mortgage interest rates for the loan – ordinarily at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and the issuing of closing documents. Those who decide to float believe that interest rates will dip 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 rate

When you opt to pay additional points to lower the interest rate of your loan, you'll pay for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will assist you in deciding if purchasing points is the best option for you.

4 – Gather your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get your documents together. Click here to get a feel for normal information that goes on a loan application.