Are you going to finance a home in Loveland? At Home Real Estate Company can help.

Applying for a loan can be one of the most demanding aspects of buying a home, but it doesn't have to be. Being connected to many lending companies in the Loveland area has helped me learn a few things that can make the process of applying for a loan uncomplicated.

1 – Compose a list of questions about your loan program

Be sure to bring a list of questions with you if you find that you don't fully understand the ins and outs of the different programs. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of each program, because it is a challenge to know the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in a rate, the lender is holding to the mortgage interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for your loan and issuance of closing documents. Those who prefer to float conclude that interest rates will plunge 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

Oftentimes you can decide to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. Click here to use our points calculator. This tool will help you decide if buying points is right for you.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here for a list of typical loan documentation.

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