Getting your loan locked down is just one aspect of a real estate transaction. Prudential St. George Realty / Ron Slane is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Call us today at 888.703.1480 if your needs include a real estate pro ready for the business side of real estate.


Applying for your new home loan with the help of Prudential St. George Realty / Ron Slane

Stressed out about applying for a mortgage? You don't have to be. Having connections to many lenders in St. George has helped me learn some things that can make the process of applying for a loan effortless.

1 – Compose a list of questions regarding your loan program

If you find that you don't fully comprehend the advantages and disadvantages of the various programs, be sure you have a list of questions with you. I or one of my lender contacts can assist you in understanding the advantages and disadvantages of each one, because it's hard to know the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when to lock

Locking in the interest rate means that a lender commits to the mortgage interest rates for the loan – most often at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for your loan and closing. Those who decide to float believe 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 reduce your interest rate

Normally you can elect to pay additional points to lower the rate of your mortgage 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 assist you in determining if buying points is the best option for you.

4 – Compile your paperwork

Obtaining a loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to get a feel for common questions you'll have to answer on a loan app.
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