Getting your mortgage is just one part of getting into a new home. C&H Realty is experienced at assisting new and experienced in all areas of real estate. Contact me if your needs include a professional REALTOR® ready for the business side of buying and selling.

Are you going to finance a home?

Applying for a loan is one of the most stressful elements of buying a home. But it doesn't have to be. Being close with many mortgage lenders in the Sterling area has helped me realize a few things that will make the loan application process very easy.

1 – Create a list of questions regarding your loan program

Be sure to bring a list of questions if you do not completely comprehend the advantages and disadvantages of the different programs. One of my lenders or I will be able to assist you with understanding the advantages and disadvantages of both programs, because it is hard to understand the differences between both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in an interest rate, it means that your lender guarantees the mortgage interest rates for the loan – typically at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between application and at the time of closing. Buyers who decide to float presume that the interest rates will plunge 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 interest rate

Normally you can choose to pay additional points to lower the rate of your loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use my points calculator. This tool will help you decide if purchasing points is the best option for you.

4 – Compile your paperwork

Getting 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 information that goes on a loan application.