Let Realty World-Frangadakis Corporation help you apply for a loan.

A lot of people think that applying for a loan is one of the more stressful aspects of purchasing a house, but it doesn't have to be. I have a close business relationship with several mortgage lenders, and they've helped me recognize a few things that can make the process of applying for a loan much easier.

1 – Make a list of questions about your loan program

If you don't perfectly understand the ins and outs of the different programs, make sure to have a list of questions. I or one of my lenders can assist you with understanding the advantages and disadvantages of each one, because it can be hard to know the characteristics of both fixed and adjustable rate mortgages.


2 – Decide when you want to lock

When you lock in the rate, it designates that the mortgage lender commits to the mortgage 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 the day you apply for the loan and issuance of closing documents. Buyers who elect to float think that the interest rates will drop 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 lower your interest rate

When you elect to pay additional points to lower the interest rate of your loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the loan. To determine if purchasing points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here to get a list of typical loan documentation.

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