
	Securing financing is just one part of getting into a new home. Alice Salaices - Realtor is experienced at aiding new and experienced in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.

Are you thinking about financing your new home?

Feeling lots of anxiety over getting financing for a home purchase? You don't have to be. I have close professional relationships with various lending companies in Venice, and they've helped me learn a few things that will make the loan application process very easy.

1 – Create a list of questions regarding your loan program

Be sure you bring a list of questions with you if you do not completely understand the advantages and disadvantages of all the different loan programs. I or one of my trusted lenders will help you understand the advantages and disadvantages of each program, because it can be a challenge to understand the distinctions between fixed and adjustable rate mortgages.

2 – Decide when to lock

By locking in the interest rate, the mortgage lender is guaranteeing 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 at any time between the loan application day 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 – Decide 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'll do so by paying for them in cash at closing. Each point is 1 percent of the loan. To determine if purchasing points is the best option for you, 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 documentation together. Click here to get a feel for common questions you'll have to answer on a loan app.