
	Securing financing is just one aspect of a home purchase. Real Estate eBroker DRE# 01852221 is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 858 952-4600 if your needs include a real estate pro ready for the business side of real estate.

Thinking about financing a home?

Applying for financing is one of the most exasperating elements of buying a home. But it doesn't have to be. Being close with some lending companies in Escondido has helped me recognize a few things that will make the process of applying for a loan a breeze.

1 – Assemble a list of questions about your loan program

Make sure to have a list of questions if you do not totally comprehend the pros and cons of the different loan programs. It can be hard to know the characteristics of both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of both.

2 – Decide when to lock

By locking in the rate, your lender is guaranteeing the interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Those who decide to float believe interest rates will fall in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to decrease your rate

Oftentimes you can decide to pay additional points to lower the interest rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. If you're not sure if purchasing points is right for you, click here to use our points calculator.

4 – Bring your paperwork

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