Applying for a loan in Los Angeles with help from Keller Williams Realty

Applying for financing can be one of the most exasperating aspects of purchasing a home. But it doesn't have to be. I've got great connections to several mortgage lenders in Los Angeles, and they've helped me understand some things that can make the loan application process very manageable.

1 – Compile a list of questions regarding your loan program

If you find that you don't entirely understand the pros and cons of the different financing options, make sure you bring a list of questions with you. It is a challenge understanding the differences between both fixed and adjustable rate mortgages. I or one of my lenders can help you understand the advantages and disadvantages of each program.

2 – Decide when you want to lock

Locking in the rate denotes that the lender holds to the interest rates for the loan – often at the time the loan application is presented. By floating the rate, you can lock the rate at any time between application and the issuing of closing documents. Those who opt to float believe interest rates will decline 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 elect to pay additional points to lower the rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing.

4 – Bring your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to see general information that goes on a loan application.

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Hollywood Hills Homes for Sale

Hollywood Hills Real Estate

Direct: (310) 614-1393
Fax: (310) 882-6821
jeffgiordano@kw.com