
	Securing financing is just one aspect of a home purchase. Venice Hometown Realty, LLC is seasoned at assisting new and experienced 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 your loan

For a lot of people, applying for the loan can be one of the most troublesome elements of buying a house. But it doesn't have to be. I have close relationships with several lending companies in the Venice area, and they've helped me learn a few things that can make the loan application process much easier.

1 – Compile a list of questions regarding your loan program

Make sure you have a list of questions with you if you find that you don't perfectly understand the ins and outs of all the various programs. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each one, because it can be a challenge to know the differences between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the interest rate, it means that a mortgage lender holds to the 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 day you apply for the loan and issuance of closing documents. Those who elect to float believe that interest rates will fall 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

Oftentimes you can choose to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will help you determine if buying points is right for you.

4 – Gather your paperwork

Acquiring a loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to see normal information that goes on a loan application.