Getting your loan locked down is just one aspect of a home purchase. RE/MAX - Roxanne Mercer is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Call me today at (707) 869-9067 if your needs include a professional REALTOR® experienced at the business side of real estate.

Are you looking to finance a new home?

For a lot of people, applying for a mortgage loan can be one of the most troublesome aspects of buying a house. But it doesn't have to be. I have close relationships with various mortgage lenders in Healdsburg, and they've helped me learn a few things that make the loan application process a snap.

1 – Compile a list of questions regarding your loan program

Make sure you bring a list of questions if you find that you don't totally grasp the ins and outs of the different programs. One of my trusted lenders or I can help you understand the advantages and disadvantages of each program, because it is a challenge to know the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

By locking in the interest rate, the mortgage lender is guaranteeing the mortgage interest rates for the loan – typically at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day you apply for your loan and issuance of closing documents. Buyers who elect to float presume interest rates will fall 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

Normally you can choose to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. If you're unsure as to whether or not buying points is the best option for you, click here to use my points calculator.

4 – Bring your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should take some time to get all your documentation together. Click here to preview normal information that goes on a loan application.

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