
	Securing financing is just one part of a real estate transaction. Realty Executives Cares - Piero Reece - Broker License #01159191 is seasoned at helping new and experienced in all areas of real estate. Call us today at 619-791-1000 if your needs include a professional REALTOR^® ready for the business side of real estate.

Thinking of financing your home?

When buying a home, applying for the loan is very exasperating for many people, but it doesn't have to be. I have excellent relationships with a lot of mortgage lenders in National City, and they've helped me realize some things that can make the process of applying for a loan a breeze.

1 – Compile a list of questions about your loan program

Make sure to bring a list of questions with you if you find that you don't entirely comprehend the pros and cons of the different programs. I or one of my trusted lenders will help you understand the advantages and disadvantages of both programs, because it can be a challenge to understand the distinctions between fixed and adjustable rate mortgages.

2 – Decide when to lock

By locking in a rate, the lender is committing to the mortgage 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 the day you apply for the loan and issuance of closing documents. Those who prefer to float believe 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 decrease your rate

If you elect to pay additional points to lower the interest rate of your loan, you will pay for them in cash at closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. It will assist you in deciding if buying points is right for you.

4 – Gather your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to get a feel for typical questions you'll have to answer on a loan app.