
	Securing financing is just one aspect of a real estate transaction. Coldwell Banker-Hoppough & Associates /Hidden Acre Develpment Company Inc is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 616.897.0500 if your needs include a real estate pro experienced at the business side of buying and selling.

Are you going to finance your home?

Applying for a mortgage loan can be one of the most stressful elements of buying a home. But it doesn't have to be. I've got great connections to several lenders in Lowell, and they've helped me understand a few things that can make the process of applying for a loan pretty simple.

1 – Organize a list of questions about your loan program

If you don't completely realize the pros and cons of all the various financing options, be sure to have a list of questions with you. I or one of my lender contacts can assist you in understanding the advantages and disadvantages of each one, because it can be hard to understand the differences between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in an interest rate, a mortgage lender is guaranteed to commit to the mortgage interest rates for the loan – commonly at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for your loan and the issuing of closing documents. Those who decide to float believe the interest rates will plunge 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 rate

When you decide to pay additional points to lower the interest rate of your loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will help you decide if buying points is the best option for you.

4 – Gather your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to preview typical information that goes on a loan application.

Coldwell Banker-Hoppough & Associates /Hidden Acre Develpment Company Inc 11630 E. Fulton Lowell, MI 49331

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