Are you thinking of financing a home? At Home Real Estate Company can help.

A lot of people believe that applying for a loan is one of the most distressing elements of buying a house, but it doesn't have to be. I have a close relationship with many lending companies in Loveland, and they've helped me realize a few things that can make the process of applying for a loan a snap.

1 – Assemble a list of questions about your loan program

Be sure you bring a list of questions if you do not entirely understand the pros and cons of the various loan programs. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of each program, because it's hard to know the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the rate, the mortgage lender is sure to hold to the mortgage interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate at any time between application and issuance of closing documents. Those who opt to float conclude 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 decrease your interest rate

Generally you can choose 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. If you're uncertain if purchasing points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

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

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