Ender & Associates Realty can help you apply for your loan.

Most buyers believe that applying for a loan is one of the more troublesome aspects of buying a house, but it doesn't have to be. I'm pretty well-connected to some mortgage lenders in the Mineral Wells area, and they've helped me recognize some things that make the process of applying for a loan a snap.

1 – Make a list of questions regarding your loan program

Be sure you bring a list of questions with you if you find that you do not fully realize the pros and cons of the different loan programs. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of both programs, because it is hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when to lock

By locking in the interest rate, a mortgage lender is keeping to the interest rates for the loan – normally at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Buyers who choose to float presume the interest rates will fall 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 rate

Usually you can elect to pay additional points to lower the rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. To determine if purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

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

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