Are you financing your new home in Glendale?
When buying a home, the loan application is troublesome for many people, but it doesn't have to be. Being close to many lenders in the Glendale area has helped me realize some things that will make the loan application process a snap.
1 – Assemble a list of questions regarding your loan program
Make sure you have a list of questions if you do not completely grasp the pros and cons of the different programs. One of my trusted lenders or I can assist you with understanding the advantages and disadvantages of each one, because it is hard to understand the differences between fixed and adjustable rate mortgages.
2 – Determine when to lock
When you lock in the rate, it signifies that your mortgage lender holds to the interest rates for the loan – most often at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Buyers who choose to float believe interest rates will plunge in the near future. Click here to see the outlook for the next 90 days of interest rates.
3 – Gather your paperwork
Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to get a feel for general questions you'll have to answer on a loan app.
