Applying for a home loan with the help of Rob Robbins

A lot of people believe applying for mortgage financing is one of the more exasperating aspects of buying a house, but it doesn't have to be. Having connections to many lenders in Branson has helped me recognize a few things that will make the loan application process effortless.

1 – Organize a list of questions about your loan program

Make sure to bring a list of questions if you do not perfectly realize the advantages and disadvantages of the various programs. At times, it can be a challenge to understand the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each program.

2 – Decide when you want to lock

By locking in the rate, your lender is committing to the interest rates for the loan – commonly at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the loan application day and the issuing of closing documents. Those who prefer to float believe 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 lower your rate

Usually you can elect to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. To determine if buying points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to get a list of common loan documentation.

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