
	Getting your loan locked down is just one aspect of a real estate transaction. Realty World West is seasoned at helping new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.

Are you financing a home in Bonita? Realty World West can help.

When purchasing a home, applying for a mortgage loan is very stressful for many people, but it doesn't have to be. Having connections to a lot of mortgage lenders in the Bonita area has helped me understand some things that will make the process of applying for a loan pretty simple.

1 – Organize a list of questions regarding your loan program

Be sure to bring a list of questions with you if you don't fully grasp the ins and outs of the various loan programs. I or one of my trusted lenders will help you understand the advantages and disadvantages of each one, because it's hard to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in the rate, a lender is sure to keep to the mortgage interest rates for the loan – usually at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Those who prefer to float think interest rates will decline 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 rate

When you decide to pay additional points to lower the rate of your loan, you will pay for them in cash at closing. Every point is 1 percent of the mortgage loan. To decide if purchasing points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Acquiring a loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to see normal questions you'll have to answer on a loan app.