Applying for your home loan with help from Atlas Real Estate Corporation

Applying for the loan can be one of the most exasperating elements of purchasing a home for a buyer, but it doesn't have to be. I'm pretty familiar with various lending companies in the Beverly Hills area, and they've helped me recognize some things that can make the process of applying for a loan effortless.

1 – Make a list of questions regarding your loan program

If you do not totally understand the advantages and disadvantages of the different loan programs, make sure to bring a list of questions. It can be hard to understand the characteristics of both fixed and adjustable rate mortgages. I or one of my lenders will assist you with understanding the advantages and disadvantages of each one.

2 – Decide when to lock

When you lock in the rate, the mortgage lender is sure to hold to the interest rates for the loan – commonly 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 closing. Those who decide to float think that the interest rates will dip 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 reduce your rate

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

4 – Bring your paperwork

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

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