
	Securing financing is just one aspect of a home purchase. Arizona Premier Realty Homes & Land is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Call us today at 623-594-7680 if your needs include a real estate pro experienced at the business side of real estate.

Thinking of financing a home in Glendale? Arizona Premier Realty Homes & Land can help.

When purchasing a home, applying for a mortgage loan is troublesome for many people, but it doesn't have to be. I have excellent relationships with many mortgage lenders in the Glendale area, and they've helped me learn a few things that will make the loan application process a snap.

1 – Compose a list of questions about your loan program

Make sure you bring a list of questions if you do not entirely grasp the pros and cons of the different loan programs. I or one of my lender contacts will assist you with understanding the advantages and disadvantages of both programs, because it is hard to understand the differences between fixed and adjustable rate mortgages.

2 – Decide when to lock

By locking in an interest rate, your mortgage lender is guaranteeing the interest rates for the loan – usually at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Those who decide to float think that 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 opt to pay additional points to lower the rate of your loan, you will pay for them in cash at the time of closing. Each point is 1 percent of the loan. To determine if purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to preview normal questions you'll have to answer on a loan app.