Let Weichert, Realtors - Villar and Company assist you in applying for your new home loan in Prairieville.

When buying a home, applying for the loan is a very demanding event for many people, but it doesn't have to be. Being close with a lot of lenders in Prairieville has helped me understand a few things that can make the loan application process very manageable.

1 – Organize a list of questions regarding your loan program

Make sure you have a list of questions with you if you do not completely realize the advantages and disadvantages of all the various programs. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of each one, because it's a challenge to know the characteristics of fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in the interest rate, it means that your mortgage lender holds to the mortgage interest rates for the loan – typically at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and the issuing of closing documents. Buyers who choose to float think 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 – Determine if you want to pay additional points to lower your interest rate

If you elect to pay additional points to lower the interest rate of your loan, you will pay for them in cash at closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will help you determine if buying points is the best option for you.

4 – Bring your paperwork

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