
	Securing financing is just one part of getting into a new home. RE/MAX CHOICE is experienced at assisting 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.

Applying for your loan

Stressed out about applying for a mortgage? You don't have to be. I've got great connections to several mortgage lenders in Fayetteville, and they've helped me learn a few things that will make the process of applying for a loan easy.

1 – Create a list of questions about your loan program

If you do not completely comprehend the advantages and disadvantages of all the different financing options, make sure to bring a list of questions. It's a challenge to know the characteristics of fixed and adjustable rate mortgages. I or one of my lenders will be able to help you understand the advantages and disadvantages of both programs.

2 – Determine when you want to lock

By locking in the rate, the lender is guaranteeing the interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Those who decide to float believe that the interest rates will decline 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 reduce your interest rate

Usually you can opt to pay additional points to lower the rate of your loan. Each point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. It will assist you with determining if buying points is right for you.

4 – Gather your paperwork

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