Let At Home Real Estate Company assist you with applying for a home loan in Loveland.

Many people think applying for the mortgage loan is one of the more distressing elements of buying a home, but it doesn't have to be. Having connections with many mortgage lenders in Loveland has helped me learn some things that will make the loan application process easy.

1 – Assemble a list of questions about your loan program

Make sure to have a list of questions with you if you do not perfectly comprehend the advantages and disadvantages of all the different programs. At times, it can be a challenge to understand the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts can help you understand the advantages and disadvantages of each.

2 – Determine when you want to lock

By locking in the interest rate, the mortgage lender is committing to the mortgage interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for the loan and at the time of closing. Those who elect to float presume interest rates will drop 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

If you opt to pay additional points to lower the rate of your loan, you will pay for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. If you're not sure if buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to get a list of common loan documentation.

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