All Seasons Real Estate, Inc can help you finance a home in Covina.

A lot of buyers think applying for the loan is one of the more troublesome parts of buying a home, but it doesn't have to be. Being connected with many mortgage lenders in the Covina area has helped me realize some things that will make the process of applying for a loan a breeze.

1 – Put together a list of questions regarding your loan program

Make sure to have a list of questions with you if you find that you don't thoroughly comprehend the pros and cons of the different programs. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each one, because it is a challenge to know the differences between 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 interest rates for the loan – normally at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the loan application day and at the time of closing. Those who choose 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 lower your rate

When you decide to pay additional points to lower the interest rate of your loan, you'll pay for them in cash at closing. Each point is 1 percent of the loan. To decide if buying points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should take some time to get your documents together. Click here to get a list of normal loan documentation.

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