
	Securing financing is just one aspect of a home purchase. Llewellyn, Realtors is experienced at helping new and experienced in all areas of real estate. Call us today at (301) 424-0900 if your needs include a professional REALTOR^® experienced at the business side of real estate.

Do you want to finance your home? Llewellyn, Realtors can help.

When buying a home, applying for the loan is very distressing for most people, but it doesn't have to be. I have excellent relationships with various lending companies in Rockville, and they've helped me learn a few things that will make the loan application process a snap.

1 – Create a list of questions about your loan program

Make sure to have a list of questions with you if you do not fully understand the advantages and disadvantages of all the different loan programs. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each one, because it can be a challenge to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in an interest rate, a mortgage lender is keeping to the mortgage interest rates for the loan – usually at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day of your loan application and issuance of closing documents. Buyers who elect to float think 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 lower your rate

When you elect to pay additional points to lower the rate of your mortgage loan, you will do so by paying for them in cash at closing. Every point is 1 percent of the loan. If you're unsure if purchasing points is right for you, click here to use our points calculator.

4 – Gather your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to preview common information that goes on a loan application.

Llewellyn, Realtors
795 Rockville Pike Rockville, MD 20852
Phone: (301) 424-0900 Cell: (301) 466-3223