Let Hoffer Realty Associates help you apply for a new home loan in DuBois.

Applying for mortgage financing is one of the most demanding aspects of buying a home, but it doesn't have to be. Being connected to a lot of lending companies in DuBois has helped me realize some things that will make the loan application process a breeze.

1 – Assemble a list of questions regarding your loan program

If you find that you don't totally realize the pros and cons of the different loan programs, make sure to bring a list of questions. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each program, because it's hard to understand the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in a rate, your lender is guaranteed to keep to the mortgage 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 day you apply for the loan and the issuing of closing documents. Those who opt to float conclude that interest rates will fall 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 rate

Normally you can decide 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 the time of 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

Getting a mortgage loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here for a list of general loan documentation.