Let Perrella Realty, LLC. help you apply for your loan in Plantsville.

Applying for financing is one of the most exasperating aspects of purchasing a house, but it doesn't have to be. I have a close relationship with many mortgage lenders in Plantsville, and they've helped me recognize some things that make the loan application process easy.

1 – Assemble a list of questions about your loan program

If you find that you don't perfectly comprehend the pros and cons of the various 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 one, because it's hard to know the differences between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in the interest rate designates that your lender commits to the interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Buyers who elect to float presume the interest rates will decline 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 decrease your rate

When you elect to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. It will help you decide if buying points is right for you.

4 – Bring your paperwork

Acquiring 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 typical loan documentation.

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