Are you financing your new home in Covina? All Seasons Real Estate, Inc can help.

Applying for the mortgage loan can be one of the most distressing parts of buying a home for a buyer, but it doesn't have to be. I'm well-connected to many mortgage lenders in the Covina area, and they've helped me learn some things that make the process of applying for a loan uncomplicated.

1 – Make a list of questions about your loan program

If you find that you don't perfectly realize the pros and cons of the different programs, be sure you have a list of questions. I or one of my trusted lenders can help you understand the advantages and disadvantages of each program, because it can be a challenge to know the differences between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

Locking in the rate designates that your lender holds to the mortgage interest rates for the loan – typically at the time the loan application is presented. By floating the rate, you can lock the rate anytime between application and closing. Buyers who prefer 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.

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

If you elect to pay additional points to lower the rate of your loan, you'll pay for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. It will help you determine if purchasing points is right for you.

4 – Bring your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to get a list of typical loan documentation.

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