
	Getting your loan locked down is just one aspect of getting into a new home. Allen Tate Realtors is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Call us today at (336)287-5641 if your needs include a real estate pro experienced at the business side of real estate.

Are you looking to finance your home?

When purchasing a home, applying for a loan is very distressing for many people, but it doesn't have to be. I have close professional relationships with some reputable mortgage lenders in Winston-Salem, 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 about your loan program

If you find that you don't thoroughly comprehend the advantages and disadvantages of all the various financing options, be sure you bring a list of questions. I or one of my trusted lenders will help you understand the advantages and disadvantages of both programs, because it's hard to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the interest rate, a lender is sure to hold to the mortgage interest rates for the loan – generally at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for your loan and at the time of closing. Buyers who elect 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 – Decide 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'll do so by paying for them in cash at closing. Every point is 1 percent of the loan. Click here to use our points calculator. This tool will assist you in deciding if buying points is right for you.

4 – Bring your paperwork

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