Getting your mortgage is just one aspect of getting into a new home. Keller Williams Realty is experienced at assisting new and experienced in all areas of real estate. Call us today at (310) 614-1393 if your needs include a real estate pro experienced at the business side of real estate.


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

For many people, applying for a mortgage loan can be one of the more demanding elements of purchasing a house. But it doesn't have to be. I have close relationships with some reputable mortgage lenders in Los Angeles, and they've helped me recognize a few things that will make the process of applying for a loan a breeze.

1 – Put together a list of questions about your loan program

If you find that you don't entirely comprehend the ins and outs of the various loan programs, be sure to have a list of questions with you. I or one of my trusted lenders will help you understand the advantages and disadvantages of each program, because it is a challenge to know the characteristics of fixed and adjustable rate mortgages.

2 – Determine when to lock

Locking in an interest rate indicates that your lender keeps to the interest rates for the loan – typically at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and issuance of closing documents. Buyers who opt to float presume that the interest rates will plunge 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 lower your rate

If you opt to pay additional points to lower the rate of your loan, you'll do so by paying for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. It will assist you with deciding if buying points is right for you.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get all your documents together. Click here to see common questions you'll have to answer on a loan app.

Home Status Report

Want to know if a home is still on the market, or if the price has changed? We can help. Simply fill out the information below and with no obligation to you we'll get back to you with your requested information. We guarantee your privacy.
 
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