Do you wish to finance a home in Clovis? All About Real Estate LLC can help.

For most people, applying for financing can be one of the most stressful aspects of purchasing a home, but it doesn't have to be. I'm very close with a lot of mortgage lenders in the Clovis area, and they've helped me realize some things that will make the process of applying for a loan much easier.

1 – Compile a list of questions regarding your loan program

If you find that you do not perfectly realize the ins and outs of all the different programs, be sure to bring a list of questions with you. I or one of my lenders can assist you with understanding the advantages and disadvantages of each one, because it's a challenge to understand the distinctions between fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in a rate, it indicates that your mortgage lender guarantees the mortgage interest rates for the loan – usually at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for your loan and the issuing of closing documents. Those who decide to float think interest rates will fall 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

Generally you can elect to pay additional points to lower the rate of your loan. Each point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. This tool will assist you in deciding if buying points is right for you.

4 – Bring your paperwork

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