Applying for your home loan in Plantsville with the help of Perrella Realty, LLC.

Applying for a loan can be one of the most troublesome parts of buying a house for a buyer, but it doesn't have to be. I have a close relationship with several mortgage lenders in Plantsville, and they've helped me understand some things that can make the process of applying for a loan pretty simple.

1 – Compose a list of questions regarding your loan program

If you do not fully understand the advantages and disadvantages of all the various programs, make sure to bring a list of questions with you. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of both programs, because it is hard to know the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the interest rate, the lender is sure to keep to the interest rates for the loan – usually at the time the loan application is submitted. 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. Those who choose to float presume that the 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 decrease your rate

When you choose to pay additional points to lower the interest rate of your loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. Click here to use our points calculator. This tool will assist you in deciding if buying points is the best option for you.

4 – Bring your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here for a list of normal loan documentation.

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