Provident Realty Group can assist you in applying for a new home loan.

When buying a home, applying for a loan is very distressing for a lot of people, but it doesn't have to be. I have a close relationship with various lenders in the Dublin area, and they've helped me understand some things that make the process of applying for a loan pretty simple.

1 – Make a list of questions about your loan program

Be sure you have a list of questions with you if you do not perfectly realize the advantages and disadvantages of the different loan programs. I or one of my lender contacts will help you understand the advantages and disadvantages of each program, because it can be hard to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in the interest rate, the mortgage lender is keeping to the interest rates for the loan – most often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Those who decide to float believe that interest rates will fall 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 choose to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will help you decide if purchasing points is right for you.

4 – Gather your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to get a list of typical loan documentation.