
	Getting your loan locked down is just one part of a home purchase. MOVE Utah Real Estate is experienced at helping new and experienced in all areas of real estate. Call us today at 801.205.7355 if your needs include a professional REALTOR^® ready for the business side of buying and selling.

Are you financing your new home?

Applying for financing is one of the more stressful aspects of purchasing a house. But it doesn't have to be. I have close working relationships with some reputable lending companies in the Utah area, and they've helped me realize some things that can make the process of applying for a loan easy.

1 – Organize a list of questions regarding your loan program

Be sure you bring a list of questions with you if you do not completely comprehend the advantages and disadvantages of all the various programs. Oftentimes, it can be a challenge understanding the differences between both fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you in understanding the advantages and disadvantages of each one.

2 – Determine when to lock

When you lock in an interest rate, a lender is guaranteed to keep to the interest rates for the loan – generally 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 your loan and the issuing of closing documents. Those who prefer to float believe interest rates will decline in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to lower your rate

When you elect to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. If you're uncertain as to whether or not buying points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to see common information that goes on a loan application.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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