Let Piedmont Realty Inc help you with financing your home.

Many people believe applying for a loan is one of the most exasperating elements of purchasing a house, but it doesn't have to be. Being familiar with some lenders in Piedmont has helped me recognize a few things that will make the process of applying for a loan very easy.

1 – Assemble a list of questions about your loan program

If you do not entirely understand the ins and outs of all the various loan programs, be sure you have a list of questions. It is a challenge understanding 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 programs.

2 – Determine when you want to lock

Locking in an interest rate designates that the lender guarantees 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 loan application day and at the time of closing. Those who choose to float presume interest rates will plunge 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 interest rate

Typically you can choose 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. This tool will assist you in determining if buying points is right for you.

4 – Bring your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here for a list of normal loan documentation.