
	Securing financing is just one part of a home purchase. eRealty Concepts, LLC is experienced at helping new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.

Applying for a home loan

Stressed out about applying for a mortgage? You don't have to be. I've got great connections to several lending companies in Knoxville, and they've helped me recognize some things that can make the process of applying for a loan uncomplicated.

1 – Compile a list of questions about your loan program

If you do not fully understand the advantages and disadvantages of all the various loan programs, make sure to have a list of questions. It is often hard to know the distinctions between both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of both.

2 – Decide when you want to lock

By locking in the interest rate, the mortgage lender is holding to the mortgage interest rates for the loan – normally at the time the loan application is presented. By floating the rate, you can lock the rate anytime between application and issuance of closing documents. Buyers who elect to float presume 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 rate

When you decide to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. Click here to use our points calculator. This tool will help you decide if purchasing points is the best option for you.

4 – Bring your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to see normal information that goes on a loan application.