Are you going to finance your home in Glendale? Arizona Premier Realty Homes & Land LLC. can help.

When purchasing a home, applying for the loan is distressing for many people, but it doesn't have to be. I'm pretty familiar with several lenders in Glendale, and they've helped me understand some things that will make the loan application process uncomplicated.

1 – Put together a list of questions regarding your loan program

Make sure to bring a list of questions if you find that you don't perfectly understand the ins and outs of the various programs. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of each program, because it's a challenge to understand the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

Locking in an interest rate indicates that the mortgage lender guarantees the interest rates for the loan – commonly at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day you apply for your loan and the issuing of closing documents. Those who choose 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 reduce your rate

If you elect to pay additional points to lower the interest rate of your loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will help you decide if purchasing points is the best option for you.

4 – Gather your paperwork

Obtaining a loan requires a lot of paperwork, so you should take some time to get all your documents together. Click here to get a list of common loan documentation.