Weichert, Realtors - Villar and Company can help you finance a new home in Prairieville.

Most buyers believe that applying for the mortgage loan is one of the most distressing parts of purchasing a house, but it doesn't have to be. I'm pretty close to many mortgage lenders in the Prairieville area, and they've helped me understand some things that will make the process of applying for a loan very easy.

1 – Organize a list of questions about your loan program

Be sure you bring a list of questions with you if you don't totally comprehend the pros and cons of all the various programs. I or one of my lenders will be able to assist you in understanding the advantages and disadvantages of both programs, because it can be a challenge to understand the distinctions between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in an interest rate designates that the mortgage lender holds to the interest rates for the loan – normally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between application and closing. Those who prefer to float believe that interest rates will decline 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 interest rate

When you choose to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. It will assist you with determining if purchasing points is right for you.

4 – Gather your paperwork

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