Getting your loan locked down is just one aspect of a real estate transaction. REeBroker | Sabrina Simpson is experienced at aiding new and experienced in all areas of real estate. Contact me if your needs include a professional REALTOR® experienced at the business side of real estate.

REeBroker | Sabrina Simpson can help you finance a new home.

Stressed out about applying for a mortgage? You don't have to be. Being close to several mortgage lenders in the Moorpark area has helped me understand some things that can make the loan application process pretty simple.

1 – Compose a list of questions about your loan program

Be sure to bring a list of questions if you don't perfectly understand the advantages and disadvantages of all the different loan programs. One of my lender contacts or I will help you understand the advantages and disadvantages of each program, because it's a challenge to understand the distinctions between fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in the rate, the mortgage lender is guaranteed to keep to the mortgage interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day of your loan application and closing. Buyers who prefer to float presume that interest rates will dip 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 interest rate

When you decide to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. Click here to use my points calculator. It will assist you in determining if purchasing points is right for you.

4 – Gather your paperwork

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

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