Are you thinking of financing your home? Fred Thorne Realty LLC can help.

Applying for the mortgage loan can be one of the most exasperating elements of purchasing a house for a buyer, but it doesn't have to be. I have a close business relationship with several lenders in the Sunset Beach area, and they've helped me learn a few things that will make the loan application process effortless.

1 – Make a list of questions about your loan program

If you find that you do not perfectly realize the ins and outs of all the various loan programs, 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 program, because it's hard to know the differences between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in a rate, it means that your mortgage lender keeps to the mortgage interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the loan application day and at the time of closing. Those who decide to float conclude that the interest rates will dip 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 lower your rate

When you opt to pay additional points to lower the rate of your loan, you'll pay for them in cash at closing. Every point is 1 percent of the loan. If you're unsure as to whether or not purchasing points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get all your documentation together. Click here for a list of general loan documentation.

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