
	Securing financing is just one part of getting into a new home. Brouhard REALTORS is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Call us today at (317) 539-2266 if your needs include a real estate pro ready for the business side of buying and selling.

Applying for your new home loan

When purchasing a home, applying for a mortgage loan is distressing for a lot of people, but it doesn't have to be. I have excellent relationships with various mortgage lenders in the Coatesville area, and they've helped me realize a few things that can make the loan application process easy.

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

Be sure you have a list of questions with you if you do not fully understand the ins and outs of all the various loan programs. I or one of my trusted lenders will assist you in understanding the advantages and disadvantages of each one, because it can be hard to know the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in an interest rate signifies that your mortgage lender guarantees the interest rates for the loan – typically at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for the loan and the issuing of closing documents. Those who opt to float conclude that interest rates will dip 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 reduce your rate

Generally you can elect to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. If you're unsure as to whether or not buying points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to preview common information that goes on a loan application.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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