Are you thinking of financing your home in Piedmont?

Applying for a loan is one of the most exasperating parts of buying a home for a buyer, but it doesn't have to be. I have a close business relationship with several lending companies in the Piedmont area, and they've helped me realize some things that make the loan application process a breeze.

1 – Put together a list of questions regarding your loan program

If you find that you do not completely realize the pros and cons of the various loan programs, make sure to bring a list of questions. It is often a challenge to know 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 each.

2 – Determine when to lock

When you lock in the interest rate, the mortgage lender is guaranteed to hold to the mortgage interest rates for the loan – most often 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 issuance of closing documents. Buyers who opt to float think the interest rates will dip 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

Oftentimes you can opt to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. Click here to use our points calculator. It will assist you with deciding if purchasing points is right for you.

4 – Gather your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here for a list of typical loan documentation.