
	Securing financing is just one part of getting into a new home. Charles Rutenberg Realty, Inc. is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR^® experienced at the business side of real estate.

Applying for a home loan

For a lot of people, applying for mortgage financing is one of the more distressing elements of buying a house. But it doesn't have to be. Being connected with several lenders in Clearwater has helped me recognize a lot of the things that will make the loan application process easy.

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

Be sure to bring a list of questions with you if you find that you do not totally grasp the pros and cons of the different programs. I or one of my trusted lenders will assist you in understanding the advantages and disadvantages of each program, because it's a challenge to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the rate, it means that your lender guarantees the mortgage interest rates for the loan – ordinarily at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Those who elect to float conclude 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 lower your rate

Typically you can decide to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. If you're uncertain if buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to preview general questions you'll have to answer on a loan app.