Are you going to finance your new home? All Seasons Real Estate, Inc can help.

Applying for the mortgage loan can be one of the most distressing aspects of purchasing a home, but it doesn't have to be. I'm pretty familiar with several lending companies in Covina, and they've helped me recognize some things that will make the loan application process pretty simple.

1 – Make a list of questions about your loan program

If you don't entirely realize the ins and outs of the different programs, make sure to have a list of questions with you. I or one of my trusted lenders will be able to assist you in understanding the advantages and disadvantages of each program, because it can be hard to know the distinctions between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in the interest rate, it means that a lender commits to the interest rates for the loan – typically at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day of your loan application and the issuing of closing documents. Those who decide to float think 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 interest rate

Oftentimes you can choose 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 uncertain if buying points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should take some time to get all your documentation together. Click here to get a list of normal loan documentation.

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