
	Securing financing is just one aspect of getting into a new home. Silver Beach Realty, LLC is experienced at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of buying and selling.

Are you going to finance your new home in Umatilla?

When buying a home, applying for a loan is very troublesome for a lot of people, but it doesn't have to be. I've got great connections to many lending companies in Umatilla, and they've helped me learn a few things that will make the process of applying for a loan easy.

1 – Compose a list of questions regarding your loan program

If you don't entirely understand the advantages and disadvantages of all the various financing options, be sure to have a list of questions. I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each one, because it can be hard to understand the differences between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in the rate, it signifies that your lender guarantees the mortgage interest rates for the loan – most often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for your loan and closing. Buyers who opt to float believe the interest rates will fall 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

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

4 – Compile your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to get a feel for normal questions you'll have to answer on a loan app.