
	Getting your loan locked down is just one part of getting into a new home. Keller Williams Realty is seasoned at helping new and experienced in all areas of real estate. Call us today at 530.674.6857 if your needs include a real estate pro ready for the business side of buying and selling.

Are you financing a new home in Yuba City? Keller Williams Realty can help.

Securing the mortgage loan is one of the most distressing aspects of buying a home. But it doesn't have to be. I have close professional relationships with several mortgage lenders in the Yuba City area, and they've helped me recognize some things that can make the process of applying for a loan very manageable.

1 – Organize a list of questions about your loan program

If you don't thoroughly understand the advantages and disadvantages of the different programs, make sure to bring a list of questions. It is often a challenge to know the characteristics of both fixed and adjustable rate mortgages. I or one of my lenders can assist you with understanding the advantages and disadvantages of each program.

2 – Decide when you want to lock

When you lock in an interest rate, it indicates that the lender guarantees the interest rates for the loan – commonly at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day of your loan application and issuance of closing documents. Buyers who elect to float believe that interest rates will plunge 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 reduce your interest rate

Normally you can choose to pay additional points to lower the interest rate of your mortgage loan. Every 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 assist you in determining if buying points is the best option for you.

4 – Gather your paperwork

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