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Do you want to finance a home in Lewisburg?

Applying for mortgage financing can be one of the most distressing aspects of buying a house for a buyer, but it doesn't have to be. I have a close relationship with a lot of lending companies in Lewisburg, and they've helped me realize a few things that make the process of applying for a loan much easier.

1 – Create a list of questions regarding your loan program

If you find that you don't perfectly comprehend the pros and cons of the different loan programs, be sure to bring a list of questions with you. It can be hard to understand the characteristics of both fixed and adjustable rate mortgages. I or one of my lenders can assist you with understanding the advantages and disadvantages of each.

2 – Decide when you want to lock

When you lock in the rate, it means that your lender commits to the mortgage interest rates for the loan – usually at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the loan application day and closing. Those who elect to float believe 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 opt to pay additional points to lower the interest rate of your loan, you'll pay for them in cash at closing. Each point is 1 percent of the loan. If you're unsure as to whether or not purchasing points is right for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a loan requires lots of paperwork, so you should take some time to get your documentation together. Click here for a list of general loan documentation.

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