
	Getting your loan locked down is just one aspect of a real estate transaction. Prudential California Realty is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call us today at (209) 476-4250 if your needs include a professional REALTOR^® experienced at the business side of real estate.

Are you financing a new home in Stockton?

For a lot of people, applying for a mortgage loan is one of the more exasperating parts of purchasing a house. But it doesn't have to be. I have excellent relationships with various lenders in the Stockton area, and they've helped me understand a few things that can make the process of applying for a loan much easier.

1 – Compile a list of questions about your loan program

Be sure you bring a list of questions with you if you don't perfectly comprehend the ins and outs of all the various programs. It can be a challenge to understand the differences between fixed and adjustable rate mortgages. I or one of my lenders will assist you with understanding the advantages and disadvantages of each program.

2 – Determine when to lock

Locking in the interest rate means that a mortgage lender holds 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 at any time between the day you apply for the loan and issuance of closing documents. Those who prefer to float presume interest rates will plunge 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

When you opt to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the mortgage loan. If you're not sure if buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get all your documents together. Click here to preview common questions you'll have to answer on a loan app.

Prudential California Realty 5713 N. Pershing Ave Ste E Stockton, CA 95207

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