
	Getting your mortgage is just one aspect of a home purchase. Peninsula Properties is seasoned at helping new and experienced in all areas of real estate. Call us today at (310)377-0987 if your needs include a real estate pro experienced at the business side of real estate.

Applying for a new home loan with help from Peninsula Properties

Securing a loan is one of the most stressful elements of buying a home. But it doesn't have to be. I've got great connections to several lending companies in the Rolling Hills Estates area, and they've helped me learn some things that will make the process of applying for a loan a breeze.

1 – Compile a list of questions about your loan program

Be sure you bring a list of questions if you find that you do not perfectly grasp the advantages and disadvantages of all the various programs. I or one of my trusted lenders can help you understand the advantages and disadvantages of each program, because it's hard to understand the characteristics of fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in an interest rate signifies that a lender holds to the interest rates for the loan – usually at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for the loan and the issuing of closing documents. Buyers who elect to float conclude the interest rates will dip 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 interest rate

Typically you can choose to pay additional points to lower the interest rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at closing. To decide if you should buy points, click here to use our points calculator.

4 – Compile your paperwork

Getting a loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to preview general information that goes on a loan application.