
	Securing financing is just one aspect of a real estate transaction. Stephens and Associates is seasoned at aiding new and experienced in all areas of real estate. Call us today at 707 355-1616 if your needs include a real estate pro ready for the business side of buying and selling.

Thinking about financing your new home? Carrie Stine with Stephens and Associates can help.

When purchasing a home, applying for financing is demanding for many people, but it doesn't have to be. I have excellent relationships with various lending companies in Sebastopol, and they've helped me learn some things that will make the process of applying for a loan much easier.

1 – Create a list of questions regarding your loan program

Be sure to have a list of questions if you find that you don't totally comprehend the advantages and disadvantages of all the various programs. It is often a challenge understanding the characteristics of fixed and adjustable rate mortgages. I or one of my lenders will assist you with understanding the advantages and disadvantages of each program.

2 – Decide when to lock

When you lock in a rate, a lender is sure to commit to the interest rates for the loan – most often 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 issuance of closing documents. Buyers who elect to float think that interest rates will decline 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 rate

When you choose 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. 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 – Gather your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to see general information that goes on a loan application.

* MOL = More or Less