
	Getting your loan locked down is just one part of a home purchase. Century 21 Alpha Realty is seasoned at aiding new and experienced in all areas of real estate. Call us today at 507.202.0995 if your needs include a professional REALTOR^® experienced at the business side of buying and selling.

Applying for a new home loan in Rochester with the help of Century 21 Alpha Realty

Securing the mortgage loan is one of the more demanding aspects of buying a home. But it doesn't have to be. I have excellent relationships with a lot of lenders in the Rochester area, and they've helped me realize some things that can make the loan application process a snap.

1 – Compose a list of questions regarding your loan program

Be sure to bring a list of questions with you if you don't totally comprehend the pros and cons of all the various programs. It is often hard to understand the differences between both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of both programs.

2 – Decide when you want to lock

When you lock in the interest rate, a mortgage lender is guaranteed to hold to the interest rates for the loan – most often 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 closing. Those who choose to float conclude 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 decrease your rate

Oftentimes you can opt to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. To decide if buying points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to preview general questions you'll have to answer on a loan app.

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