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Are you financing a home? Mountain Ranch Realty, Inc. can help.

Applying for the mortgage loan is one of the most exasperating parts of purchasing a house, but it doesn't have to be. Having connections with several mortgage lenders in Mountain Ranch has helped me learn a few things that make the process of applying for a loan effortless.

1 – Create a list of questions regarding your loan program

If you find that you don't entirely realize the pros and cons of the different programs, make sure to have a list of questions. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of both programs, because it can be a challenge to know the distinctions between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in an interest rate, it indicates that your lender guarantees the mortgage interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between application and the issuing of closing documents. Buyers who choose to float believe 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 – Decide if you want to pay additional points to decrease your interest rate

When you choose to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the mortgage loan. To determine if buying points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to get a list of general loan documentation.