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

Applying for the mortgage loan can be one of the most demanding elements of buying a home, but it doesn't have to be. Having connections with some mortgage lenders in Beverly Hills has helped me recognize some things that make the process of applying for a loan uncomplicated.

1 – Assemble a list of questions about your loan program

Make sure to bring a list of questions if you don't thoroughly understand the advantages and disadvantages of all the various loan programs. Oftentimes, it can be hard to understand the characteristics of fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of each.

2 – Determine when to lock

By locking in an interest rate, a lender is holding to the interest rates for the loan – generally at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between application and the issuing of closing documents. Those who elect to float conclude 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 reduce your rate

If you decide to pay additional points to lower the interest rate of your mortgage loan, you will pay for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. If you're uncertain as to whether or not purchasing points is right for you, click here to use our points calculator.

4 – Bring your paperwork

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

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