Getting your loan locked down is just one aspect of a home purchase. Hanson Real Estate, Inc is experienced at helping new and experienced in all areas of real estate. Contact me if your needs include a professional REALTOR® ready for the business side of buying and selling.

Do you want to finance your new home in Escondido?

Stressed out about applying for a mortgage? You don't have to be. I have close professional relationships with a lot of mortgage lenders in Escondido, and they've helped me recognize a few things that will make the loan application process a snap.

1 – Create a list of questions regarding your loan program

If you find that you do not completely understand the advantages and disadvantages of the different loan programs, make sure you bring a list of questions with you. One of my lender contacts or I can assist you in understanding the advantages and disadvantages of both programs, because it's a challenge to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in a rate, a lender is sure to commit to the mortgage interest rates for the loan – commonly at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Those who decide to float believe that 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 reduce your interest rate

When you elect to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the mortgage loan. Click here to use my points calculator. This tool will help you determine if buying points is right for you.

4 – Gather your paperwork

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

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