Let Perrella Realty, LLC. assist you in applying for your home loan.

Many buyers think that applying for mortgage financing is one of the most stressful aspects of purchasing a house, but it doesn't have to be. I'm very well-connected to a lot of lending companies in Plantsville, and they've helped me learn some things that will make the process of applying for a loan effortless.

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

If you find that you don't perfectly realize the advantages and disadvantages of all the various loan programs, be sure to have a list of questions with you. It's a challenge to know the differences between both fixed and adjustable rate mortgages. I or one of my lenders will assist you with understanding the advantages and disadvantages of each one.

2 – Decide when you want to lock

Locking in an interest rate signifies that your mortgage lender keeps to the interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between application and at the time of closing. Those who choose to float think that the interest rates will decline 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 decide to pay additional points to lower the 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 mortgage loan. Click here to use our points calculator. This tool will assist you with determining if buying points is the best option for you.

4 – Gather your paperwork

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

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