Are you looking to finance your home in Stratford? Johnson Realty (580) 759-3700 can help.

Applying for a mortgage loan can be one of the most stressful aspects of purchasing a home for a buyer, but it doesn't have to be. I have a close relationship with many lending companies in Stratford, and they've helped me understand a few things that can make the process of applying for a loan a snap.

1 – Compose a list of questions regarding your loan program

Make sure to have a list of questions with you if you don't completely understand the advantages and disadvantages of the various programs. At times, it can be hard to understand the characteristics of 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.

2 – Determine when you want to lock

Locking in the interest rate signifies that your lender keeps 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 at any time between the loan application day and closing. Those who choose to float believe that interest rates will decline 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

When you opt to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. Click here to use our points calculator. It will assist you with deciding if buying points is the best option for you.

4 – Bring your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to get a list of general loan documentation.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

Your Information
Some Details