Are you looking to finance your new home? Piedmont Realty Inc can help.

When purchasing a home, applying for the mortgage loan is a very distressing event for most people, but it doesn't have to be. I'm very connected to various lending companies in the Piedmont area, and they've helped me understand some things that make the process of applying for a loan effortless.

1 – Compile a list of questions regarding your loan program

If you find that you do not fully understand the ins and outs of all the various loan programs, make sure you have a list of questions with you. At times, it can be a challenge to know the differences between both fixed and adjustable rate mortgages. I or one of my lenders will help you understand the advantages and disadvantages of each one.

2 – Decide when you want to lock

By locking in a rate, your lender is holding to the mortgage interest rates for the loan – usually at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for the loan and at the time of closing. Buyers who choose to float think that interest rates will fall 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 decrease your rate

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

4 – Bring your paperwork

Obtaining a loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to get a list of typical loan documentation.