
	Securing financing is just one aspect of a real estate transaction. Terri Misener is seasoned at helping both new and experienced buyers alike in all areas of real estate. Call us today at 715-292-0590 if your needs include a professional REALTOR^® experienced at the business side of real estate.

Are you thinking of financing a home? Terri Misener can help.

For many people, applying for mortgage financing can be one of the most exasperating aspects of buying a home. But it doesn't have to be. I have excellent relationships with various lending companies in the area, and they've helped me understand a few things that can make the loan application process a snap.

1 – Create a list of questions about your loan program

If you don't totally understand the advantages and disadvantages of all the different programs, make sure you bring a list of questions. It is a challenge to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my lenders can assist you in understanding the advantages and disadvantages of each.

2 – Determine when you want to lock

When you lock in an interest rate, a mortgage lender is guaranteed to commit to the interest rates for the loan – normally 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 closing. Those who decide to float believe 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 reduce your rate

Normally you can decide to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. Click here to use our points calculator. It will assist you in determining if purchasing points is the best option for you.

4 – Gather your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to preview typical questions you'll have to answer on a loan app.