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Applying for your home loan in Lewisburg with help from David Jent Realty & Auction

A lot of people think that applying for the loan is one of the more distressing elements of purchasing a home, but it doesn't have to be. I have a close business relationship with several lending companies in Lewisburg, and they've helped me recognize a few things that make the loan application process a breeze.

1 – Compile a list of questions about your loan program

Make sure to bring a list of questions with you if you find that you do not totally understand the ins and outs of the different programs. I or one of my trusted lenders can help you understand the advantages and disadvantages of both programs, because it's hard to understand the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

Locking in an interest rate means that a lender keeps to the interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for your loan and closing. Buyers who elect to float presume that the interest rates will dip 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 lower your rate

If you elect to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at closing. Every point is 1 percent of the loan. If you're undecided as to whether or not purchasing points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

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

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