Are you thinking about financing your new home? Weichert, Realtors - Villar and Company can help.

For a lot of people, applying for the loan can be one of the more distressing elements of buying a home, but it doesn't have to be. Being familiar with many mortgage lenders in the Prairieville area has helped me understand a few things that can make the process of applying for a loan a snap.

1 – Make a list of questions regarding your loan program

Make sure you bring a list of questions with you if you find that you don't fully comprehend the ins and outs of the various loan programs. It is often hard to know the distinctions between fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of each one.

2 – Decide when to lock

By locking in the rate, the lender is guaranteeing the interest rates for the loan – often at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for your loan and the issuing of closing documents. Those who decide to float conclude that 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 rate

If you decide to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at closing. Each point is 1 percent of the mortgage loan. If you're not sure if buying points is right for you, click here to use our points calculator.

4 – Bring your paperwork

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