Are you thinking of financing a new home in Santa Rosa?

Applying for the mortgage loan is one of the most stressful parts of buying a home. But it doesn't have to be. I have close professional relationships with several lending companies in the Santa Rosa area, and they've helped me understand a few things that can make the process of applying for a loan pretty simple.

1 – Create a list of questions regarding your loan program

Make sure to bring a list of questions with you if you do not fully understand the ins and outs of the various programs. It is often a challenge to understand the differences between fixed and adjustable rate mortgages. One of my trusted lenders or I can assist you in understanding the advantages and disadvantages of both.

2 – Determine when to lock

Locking in designates that a lender keeps 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 loan application day and the issuing of closing documents. Those who opt to float presume that interest rates will plunge in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Bring your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to get a feel for common information that goes on a loan application.

Need Assistance?

Securing financing is just one aspect of getting into a new home. Oandason Real Estate and Loans is experienced at assisting new and experienced in all areas of real estate. Contact me if your needs include a real estate pro ready for the business side of real estate.

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