Let Appreciated Value Corporation assist you in applying for a home loan.

A lot of buyers think applying for a mortgage loan is one of the more exasperating elements of buying a home, but it doesn't have to be. Being familiar with some mortgage lenders in the Long Beach area has helped me recognize some things that can make the loan application process a snap.

1 – Compile a list of questions regarding your loan program

Be sure to bring a list of questions if you do not fully realize the ins and outs of all the various programs. I or one of my trusted lenders will assist you in understanding the advantages and disadvantages of each program, because it can be a challenge to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when to lock

Locking in an interest rate designates that the lender keeps to the mortgage interest rates for the loan – most often at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day of your loan application and the issuing of closing documents. Buyers who opt 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 – Decide if you want to pay additional points to decrease your rate

Usually you can opt to pay additional points to lower the rate of your loan. Every point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. It will help you decide if buying points is right for you.

4 – Gather your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to get a list of general loan documentation.

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