Do you want to finance your home in DuBois? Hoffer Realty Associates can help.

Applying for a loan can be one of the most troublesome parts of purchasing a home, but it doesn't have to be. I'm very close with a lot of lending companies in DuBois, and they've helped me understand a few things that can make the loan application process very easy.

1 – Assemble a list of questions regarding your loan program

Make sure to have a list of questions with you if you do not entirely comprehend the ins and outs of the different loan programs. I or one of my lenders can help you understand the advantages and disadvantages of each one, because it can be a challenge to understand the characteristics of fixed and adjustable rate mortgages.

2 – Determine when you want to lock

Locking in designates that the lender keeps to the interest rates for the loan – most often at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between application and issuance of closing documents. Those who choose to float think that interest rates will fall 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 lower your rate

Generally you can decide to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. It will help you determine if purchasing points is right for you.

4 – Bring your paperwork

Acquiring a loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to get a list of normal loan documentation.