Getting your mortgage is just one part of a real estate transaction. Lester Jew|GolfHomesLV.com|Prudential Americana Group REALTORS® is experienced at assisting new and experienced in all areas of real estate. Call us today at (702) 279-5488 if your needs include a real estate pro experienced at the business side of buying and selling.

Lester Jew|GolfHomesLV.com|Prudential Americana Group REALTORS® can assist you in applying for your new home loan in Henderson.

For many people, applying for mortgage financing is one of the most distressing parts of buying a house. But it doesn't have to be. I have excellent relationships with several lenders in Henderson, and they've helped me learn some things that will make the process of applying for a loan a breeze.

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

If you find that you do not perfectly understand the pros and cons of all the different financing options, be sure you have a list of questions. Oftentimes, it can be a challenge to know the characteristics of both fixed and adjustable rate mortgages. I or one of my lenders will assist you with understanding the advantages and disadvantages of both.

2 – Decide when you want to lock

By locking in the rate, your mortgage lender is guaranteeing the interest rates for the loan – often at the time the loan application is submitted. 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. Those who decide to float believe 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 decrease your rate

If you choose to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. To decide if buying points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Getting a mortgage 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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