
	Getting your mortgage is just one part of getting into a new home. Western Colorado Real Estate, LLC is experienced at helping new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.

Are you going to finance a new home in Cedaredge?

Stressed out about getting financing for a home purchase? You don't have to be. I have close working relationships with a lot of lenders in Cedaredge, and they've helped me learn some things that make the loan application process a snap.

1 – Compose a list of questions about your loan program

If you do not completely comprehend the ins and outs of the various programs, be sure you bring a list of questions with you. I or one of my lenders can assist you in understanding the advantages and disadvantages of each program, because it can be hard to understand the differences between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in the interest rate, your mortgage lender is keeping to the mortgage interest rates for the loan – usually at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the loan application day and the issuing of closing documents. Buyers who prefer to float conclude that 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 decrease your interest rate

When you choose to pay additional points to lower the rate of your loan, you'll pay for them in cash at closing. Each point is 1 percent of the loan. To decide if buying points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to see common questions you'll have to answer on a loan app.