
	Getting your mortgage is just one part of a real estate transaction. Seville Real Estate is experienced at aiding new and experienced in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.

Are you going to finance a new home?

Stressed out about applying for a mortgage? You don't have to be. I have excellent relationships with various lending companies in the Oakland area, and they've helped me learn a few things that make the loan application process effortless.

1 – Compile a list of questions about your loan program

Make sure you have a list of questions if you don't perfectly understand the ins and outs of all the different programs. I or one of my lender contacts can help you understand the advantages and disadvantages of both programs, because it's hard to understand the characteristics of fixed and adjustable rate mortgages.

2 – Determine when you want to lock

By locking in an interest rate, your lender is committing to the mortgage interest rates for the loan – often at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Those who decide to float think that the interest rates will decline 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 mortgage loan and is payable in cash at closing. Click here to use our points calculator. This tool will assist you with determining if purchasing points is right for you.

4 – Bring your paperwork

Acquiring a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to see typical questions you'll have to answer on a loan app.