
	Getting your loan locked down is just one part of a real estate transaction. Thinking Real Estate is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of buying and selling.

Thinking of financing a home?

For many people, securing a mortgage loan is one of the more demanding aspects of purchasing a home. But it doesn't have to be. I have close relationships with some reputable lenders in Jackson, and they've helped me realize some things that make the process of applying for a loan easy.

1 – Create a list of questions about your loan program

If you do not thoroughly understand the ins and outs of the different financing options, make sure to bring a list of questions with you. I or one of my lenders will be able to assist you in understanding the advantages and disadvantages of each one, because it's a challenge to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in the rate denotes that the lender holds to the mortgage interest rates for the loan – normally at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for your loan and at the time of closing. Those who elect to float think 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 interest rate

If you elect to pay additional points to lower the rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. To determine if you should purchase points, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to get a feel for normal questions you'll have to answer on a loan app.