Thinking about financing your home in Prairieville? Villar and Company Real Estate can help.

For most people, applying for the mortgage loan can be one of the most distressing aspects of buying a house, but it doesn't have to be. Being connected to many lending companies in Prairieville has helped me understand a few things that will make the loan application process pretty simple.

1 – Compose a list of questions about your loan program

If you find that you don't fully realize the pros and cons of all the various programs, be sure you have a list of questions with you. I or one of my lenders can assist you in understanding the advantages and disadvantages of both programs, because it can be a challenge to understand the differences between both fixed and adjustable rate mortgages.

2 – Decide when to lock

By locking in the interest rate, a lender is keeping to the interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for your loan and the issuing of closing documents. Buyers who choose to float conclude 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 decrease your interest rate

If you choose to pay additional points to lower the interest rate of your loan, you will pay for them in cash at the time of 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 – Bring your paperwork

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