Applying for your home loan with the help of Lake Country Real Estate, Inc.

For a lot of people, applying for financing can be one of the most troublesome elements of purchasing a home, but it doesn't have to be. I have a close relationship with a lot of mortgage lenders in Auburn, and they've helped me recognize a few things that will make the process of applying for a loan effortless.

1 – Compile a list of questions about your loan program

Be sure to have a list of questions if you find that you don't thoroughly comprehend the ins and outs of the different programs. It is hard to understand the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts will help you understand the advantages and disadvantages of both.

2 – Decide when to lock

Locking in indicates that a lender holds to the interest rates for the loan – normally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the loan application day and issuance of closing documents. Buyers who decide to float believe interest rates will drop 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 interest 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 closing. Click here to use our points calculator. It will help you decide if buying points is the best option for you.

4 – Bring your paperwork

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

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