Hoffer Realty Associates can help you apply for your loan in DuBois.

For many people, applying for a loan can be one of the most stressful aspects of buying a home, but it doesn't have to be. I'm very well-connected with a lot of mortgage lenders in the DuBois area, and they've helped me learn a few things that can make the loan application process pretty simple.

1 – Put together a list of questions about your loan program

Be sure you bring a list of questions with you if you find that you don't perfectly comprehend the ins and outs of all the different loan programs. At times, it can be a challenge to understand the differences between both fixed and adjustable rate mortgages. I or one of my lenders will assist you with understanding the advantages and disadvantages of both.

2 – Decide when you want to lock

When you lock in the interest rate, it denotes that the lender commits to the interest rates for the loan – usually 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 the loan and at the time of closing. Those who opt to float conclude 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 lower your interest rate

When you opt to pay additional points to lower the interest rate of your loan, you will pay for them in cash at closing. Each point is 1 percent of the mortgage loan. If you're undecided on whether or not purchasing points is right for you, click here to use our points calculator.

4 – Gather your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should take some time to get all your documentation together. Click here for a list of common loan documentation.

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