Securing financing is just one part of a home purchase. Hanson Real Estate, Inc is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call me today at 760-745-3366 if your needs include a real estate pro ready for the business side of buying and selling.

Are you financing your home in Escondido?

For a lot of people, applying for mortgage financing can be one of the most troublesome elements of purchasing a house. But it doesn't have to be. Having connections to various lending companies in Escondido has helped me recognize some things that make the process of applying for a loan a breeze.

1 – Organize a list of questions about your loan program

If you find that you do not completely realize the ins and outs of the various financing options, be sure you bring a list of questions with you. Oftentimes, it can be hard to understand the distinctions between fixed and adjustable rate mortgages. One of my lenders or I can assist you in understanding the advantages and disadvantages of each program.

2 – Decide when to lock

By locking in an interest rate, the lender is keeping to the mortgage interest rates for the loan – ordinarily at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Buyers who elect to float conclude interest rates will drop 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 rate

Typically you can choose to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the loan and is payable in cash at closing. If you're uncertain if buying points is the best option for you, click here to use my points calculator.

4 – Compile your paperwork

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

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