
	Securing financing is just one part of a real estate transaction. Dogwood Realty Inc is experienced at assisting new and experienced in all areas of real estate. Call us today at 812-849-HOME (4663) if your needs include a real estate pro experienced at the business side of buying and selling.

Are you looking to finance your new home?

Applying for mortgage financing is one of the more troublesome aspects of purchasing a house. But it doesn't have to be. I have close business relationships with a lot of lending companies in Mitchell, and they've helped me recognize some things that can make the process of applying for a loan pretty simple.

1 – Compose a list of questions regarding your loan program

Make sure to bring a list of questions with you if you do not totally grasp the advantages and disadvantages of all the various loan programs. It can be a challenge to know the distinctions between both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of both.

2 – Determine when you want to lock

When you lock in a rate, your lender is sure to commit to the mortgage interest rates for the loan – most often 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 at the time of closing. Those who elect to float presume 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 interest rate

When you choose to pay additional points to lower the rate of your loan, you will pay for them in cash at closing. Each point is 1 percent of the mortgage loan. If you're undecided on whether or not buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to see typical information that goes on a loan application.