
	Getting your loan locked down is just one part of a real estate transaction. Brenda Rumball, CRS, GRI, CIPS, E-Pro is experienced at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.

Let Brenda Rumball, CRS, GRI, CIPS, E-Pro help you with financing your home.

When purchasing a home, applying for the loan is very distressing for a lot of people, but it doesn't have to be. I have close working relationships with a lot of lending companies in the Snohomish area, and they've helped me realize some things that make the process of applying for a loan a breeze.

1 – Make a list of questions about your loan program

Be sure to bring a list of questions with you if you don't fully comprehend the ins and outs of all the various loan programs. At times, it can be a challenge to understand the differences between fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of both programs.

2 – Determine when to lock

By locking in a rate, a lender is guaranteeing the interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for the loan and the issuing of closing documents. Buyers who elect to float conclude that the interest rates will decline 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

When you decide to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. To determine if purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to get a feel for normal questions you'll have to answer on a loan app.