Weichert, Realtors - Villar and Company can help you apply for your home loan in Prairieville.

For many people, applying for mortgage financing is one of the most troublesome elements of purchasing a house, but it doesn't have to be. I have a close business relationship with a lot of lending companies in Prairieville, and they've helped me understand a few things that can make the process of applying for a loan pretty simple.

1 – Create a list of questions about your loan program

If you do not fully comprehend the pros and cons of all the different programs, be sure you have a list of questions with you. It is hard to know the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of each program.

2 – Decide when you want to lock

When you lock in a rate, it means that the mortgage lender holds to the interest rates for the loan – typically at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Those who prefer to float think interest rates will drop 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

If you elect to pay additional points to lower the rate of your mortgage loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the loan. Click here to use our points calculator. This tool will assist you with determining if buying points is right for you.

4 – Bring your paperwork

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