
	Getting your mortgage is just one aspect of getting into a new home. RE/MAX All Pro is seasoned at aiding new and experienced in all areas of real estate. Call us today at 301-933-0058 if your needs include a professional REALTOR^® ready for the business side of real estate.

Let RE/MAX All Pro help you finance your new home in Rockville.

Securing financing can be one of the most stressful aspects of buying a house. But it doesn't have to be. I have close working relationships with some reputable lending companies in Rockville, and they've helped me learn a few things that can make the loan application process much easier.

1 – Make a list of questions regarding your loan program

Make sure you have a list of questions with you if you don't fully comprehend the ins and outs of the various loan programs. I or one of my lender contacts will be able to help you understand the advantages and disadvantages of each program, because it's a challenge to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in the interest rate, your lender is sure to hold to the interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the loan application day and the issuing of closing documents. Buyers who decide to float think the 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

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

4 – Bring your paperwork

Obtaining a loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to get a feel for typical questions you'll have to answer on a loan app.

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