
	Getting your loan locked down is just one part of a real estate transaction. Keller Williams Realty is experienced at helping new and experienced in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.

Are you going to finance a new home? Keller Williams Realty can help.

Securing mortgage financing can be one of the more stressful elements of buying a house. But it doesn't have to be. I have close business relationships with many lenders in Chesapeake, and they've helped me realize a few things that can make the loan application process effortless.

1 – Compose a list of questions regarding your loan program

If you do not fully realize the ins and outs of the different loan programs, make sure to bring a list of questions with you. I or one of my lenders will be able to help you understand the advantages and disadvantages of each program, because it can be a challenge to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when to lock

By locking in the rate, the lender is guaranteeing the mortgage interest rates for the loan – ordinarily 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 at the time of closing. Those who opt to float think that the interest rates will drop 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 elect to pay additional points to lower the 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. Click here to use our points calculator. It will assist you with deciding if buying points is right for you.

4 – Compile your paperwork

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

Tracy Turner - Keller Williams Realty - 1100 Volvo Parkway, Suite 200 - Chesapeake, VA 23320 - Office: 757-361-0106 - Cell: 757-270-6318 - My Fax: 866-509-1539 - Email: tracy.turner@kw.com Each Keller Williams is independently owned and operated.