
	Getting your mortgage is just one aspect of a real estate transaction. Joe Palacio is seasoned at assisting new and experienced in all areas of real estate. Call us today at (513)237-5383 if your needs include a Real Estate Consultant ready for the business side of real estate.

Applying For A Mortgage Loan

For most people, securing a mortgage loan can be one of the most exasperating aspects of buying a home. But it doesn't have to be. Being familiar with several lending companies in the Butler County, Ohio area has helped me recognize a few things that will make the loan application process uncomplicated.

1 – Organize a list of questions about your loan program

Make sure you have a list of questions if you find that you do not perfectly understand the advantages and disadvantages of all the different programs. It is a challenge to know the differences between fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you in understanding the advantages and disadvantages of each.

2 – Decide when to lock

When you lock in a rate, it designates that your lender holds to the mortgage interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between application and closing. Those who choose to float presume that the interest rates will drop 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

Oftentimes you can opt 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 closing. To determine if you should purchase points, click here to use our points calculator.

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to see common information that goes on a loan application.

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