
	Securing financing is just one part of a home purchase. Century21 HomeStar is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.

Do you wish to finance your new home?

Securing the mortgage loan can be one of the more exasperating parts of purchasing a home. But it doesn't have to be. I have close professional relationships with many mortgage lenders in Central Ohio, and they've helped me recognize some things that will make the process of applying for a loan much easier.

1 – Create a list of questions about your loan program

Be sure to bring a list of questions if you find that you don't totally grasp the advantages and disadvantages of all the various programs. It is a challenge to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my lenders will assist you in understanding the advantages and disadvantages of each program.

2 – Decide when you want to lock

By locking in the rate, a lender is holding to the mortgage interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the loan application day and closing. Buyers who opt to float presume 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 – Decide if you want to pay additional points to decrease your rate

Typically you can elect to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will help you determine if purchasing points is the best option for you.

4 – Gather your paperwork

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