Let RE/MAX Advantage help you apply for your home loan.

Applying for mortgage financing is one of the most distressing parts of buying a house for a buyer, but it doesn't have to be. I'm connected to many lenders in Rice Lake, and they've helped me learn a few things that make the loan application process easy.

1 – Assemble a list of questions about your loan program

Make sure to have a list of questions with you if you do not fully realize the pros and cons of the various programs. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of both programs, because it can be hard to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

Locking in the rate indicates that the mortgage lender commits to the mortgage interest rates for the loan – usually at the time the loan application is received. By floating the rate, you can lock the rate anytime between the loan application day and at the time of closing. Those who opt to float presume interest rates will drop 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

When 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 closing. Every point is 1 percent of the loan. Click here to use our points calculator. It will help you decide if purchasing points is the best option for you.

4 – Bring your paperwork

Acquiring a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to get a list of common loan documentation.

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