Applying for your home loan in Prairieville with help from Villar and Company Real Estate

When buying a home, applying for a mortgage loan is demanding for a lot of people, but it doesn't have to be. Being connected with a lot of mortgage lenders in Prairieville has helped me learn some things that will make the process of applying for a loan easy.

1 – Assemble a list of questions about your loan program

Be sure to have a list of questions with you if you find that you don't entirely comprehend the ins and outs of the different programs. It's a challenge to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my lender contacts will help you understand the advantages and disadvantages of both.

2 – Determine when to lock

When you lock in the rate, it indicates that the lender keeps to the mortgage interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and closing. Buyers who choose 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 – Decide if you want to pay additional points to decrease your interest rate

If you opt to pay additional points to lower the rate of your loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the loan. To determine if purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a loan requires lots of paperwork, so you should take some time to get your documents together. Click here for a list of general loan documentation.