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Getting your mortgage is just one aspect of getting into a new home. Sally King / OPTIONS 153 Real Estate is seasoned at aiding new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of buying and selling.

Thinking of financing your home? Sally King / OPTIONS 153 Real Estate can help.

When purchasing a home, applying for a mortgage loan is troublesome for a lot of people, but it doesn't have to be. I've got great connections to a lot of mortgage lenders in Plymouth, and they've helped me understand some things that will make the loan application process uncomplicated.

1 – Make a list of questions regarding your loan program

Be sure to bring a list of questions if you find that you do not totally grasp the pros and cons of all the various programs. It's hard to know the differences between both fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of both.

2 – Determine when to lock

By locking in the rate, the lender is guaranteeing the mortgage interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between application and closing. Those who opt to float think that interest rates will decline 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 reduce your interest rate

If you decide to pay additional points to lower the interest rate of your loan, you'll pay for them in cash at closing. Every point is 1 percent of the loan. Click here to use our points calculator. This tool will assist you in deciding if purchasing points is the best option for you.

4 – Gather your paperwork

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