Are you looking to finance your new home? Village Associates Real Estate can help.

Securing the loan is one of the most troublesome elements of purchasing a house. But it doesn’t have to be. I have close business relationships with various lending companies in Lamorinda, and they’ve helped me understand some things that make the process of applying for a loan uncomplicated.

Step 1: Compose a list of questions about your loan program

Make sure you bring a list of questions if you do not perfectly grasp the ins and outs of the different loan programs. I or one of my lender contacts can assist you with understanding the advantages and disadvantages of each program, because it’s a challenge to understand the characteristics of both fixed and adjustable rate mortgages.

Step 2: Determine when to lock in interest rates

By locking in an interest rate, your mortgage lender is holding to the interest rates for the loan – normally at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Buyers who opt to float conclude that interest rates will dip in the near future. Click here to see the outlook for the next 90 days of interest rates.

Step 3: Decide if you want to pay additional points to reduce your rate

If you choose to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. If you’re undecided on whether or not buying points is right for you, click here to use our points calculator.

Step 4: Bring your paperwork

Acquiring a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to see normal information that goes on a loan application.

Getting your mortgage is just one aspect of a home purchase. Village Associates Real Estate is seasoned at assisting new and experienced in all areas of real estate. Call us today at (925) 258-7114 if your needs include a real estate pro ready for the business side of buying and selling.