
	Getting your mortgage is just one aspect of a home purchase. Lisa Ingram Kester - Associate Broker is seasoned at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of real estate.

Are you thinking of financing a home in Collinsville? Lisa Ingram Kester - Associate Broker can help.

For many people, applying for financing is one of the most demanding elements of buying a home. But it doesn't have to be. I've got great connections to several lenders in Collinsville, and they've helped me realize some things that can make the process of applying for a loan pretty simple.

1 – Organize a list of questions regarding your loan program

If you find that you do not perfectly comprehend the advantages and disadvantages of all the different financing options, make sure you have a list of questions with you. Oftentimes, it can be a challenge to understand the differences between fixed and adjustable rate mortgages. I or one of my lender contacts will help you understand the advantages and disadvantages of each one.

2 – Determine when to lock

When you lock in an interest rate, the lender is guaranteed to hold to the mortgage interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Buyers who opt to float presume interest rates will dip 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 decrease your interest rate

Normally you can decide to pay additional points to lower the interest rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. If you're uncertain as to whether or not purchasing points is right for you, click here to use our points calculator.

4 – Gather your paperwork

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

Commonwealth LLC Realtors~ Collinsville, Virginia
Lisa Kester
Licensed Associate Broker ~ State of Virginia