Atlas Real Estate Corporation can assist you in applying for your new home loan in Beverly Hills.

When purchasing a home, applying for the loan is a exasperating event for most people, but it doesn't have to be. Having connections with many lending companies in Beverly Hills has helped me realize 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 with you if you don't perfectly comprehend the ins and outs of the various programs. It's a challenge to understand the differences between fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of both programs.

2 – Determine when to lock

When you lock in the interest rate, the lender is guaranteed to commit to the interest rates for the loan – normally at the time the loan application is received. By floating the rate, you can lock the rate at any time between application and closing. Those who elect to float conclude that interest rates will drop 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 interest rate

Normally you can elect to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. To decide if you should buy points, click here to use our points calculator.

4 – Bring your paperwork

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

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