
	Securing financing is just one aspect of a real estate transaction. Realty Experts/J & P Financial, Inc. is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of buying and selling.

Thinking of financing a new home? Realty Experts/J & P Financial, Inc. can help.

When purchasing a home, applying for the loan is very demanding for many people, but it doesn't have to be. I've got great connections to a lot of lending companies in the Escondido area, and they've helped me understand a few things that make the loan application process pretty simple.

1 – Compile a list of questions regarding your loan program

Make sure you bring a list of questions if you find that you do not perfectly comprehend the advantages and disadvantages of the various loan programs. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of both programs, because it is hard to understand the distinctions between fixed and adjustable rate mortgages.

2 – Determine when to lock

By locking in an interest rate, a mortgage lender is keeping to the interest rates for the loan – typically at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and issuance of closing documents. Buyers who prefer to float conclude the interest rates will fall 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 interest rate

Typically you can elect to pay additional points to lower the rate of your loan. Every 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 help you decide if purchasing points is right for you.

4 – Gather your paperwork

Acquiring a loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to preview typical information that goes on a loan application.