Loan Application Checklist

For many buyers, applying for the mortgage loan is one of the more stressful aspects of buying a home. The loan application need not be a stressful time. By following a few easy steps, you'll sail through the loan application process.

  1. Make a list of any questions you have about the loan program.
    Be sure you understand the advantages and disadvantages of the various mortgage programs for which you may qualify, including the advantages and disadvantages of Fixed Rate Mortgages versus Adjustable Rate Mortgages.

  2. Decide if you want to lock-in or float the loan's interest rate.
    Locking-in the rate means that the lender commits to the mortgage interest rate for the loan - typically at the time the loan application is submitted. By floating the rate, you can lock-in the interest rate anytime between the loan application day and closing. Buyers opt to "float the loan" when they believe interest rates will drop after their loan application date and prior to closing. The risk is that rather than dropping, interest rates may rise, increasing the mortgage payment.

  3. Decide if you want to pay additional points to lower your interest rate.
    Typically you can elect to pay additional points (each point is 1 percent of the mortgage loan payable in cash at closing) to lower the interest rate of your mortgage loan.

  4. Gather your paperwork.

     
 
Email Newsletter icon, E-mail Newsletter icon, Email List icon, E-mail List iconSign up for our Email Newsletter
For Email Marketing you can trust

The Hauber Realty Group
12 E. Kiowa
Colorado Springs, Colorado 80903
800-404-7210
www.HauberRealty.com


All Rights Reserved.  Information Deemed Reliable But Not Guaranteed.  The Hauber Realty Group is an agent of Keller Williams Hope Realty. Neither The Hauber Realty Group nor the service providers for The Hauber Realty Group are liable for any errors or inaccuracies in the information provided through this website.   Equal housing opportunity. © 2009 Keller Williams Realty.


The Hauber Realty Group
Phone: Toll Free Phone:

ResultsforYou | About Us | Contact Us | Closing costs - Ins. | Your FICO score | Preferred Lender | MLS SEARCH | Falcon | Fountain | Manitou Springs | Peyton | Woodland Park | Colorado Springs Info | School Districts | Private Schools | SW-Broadmoor | SW-$200K-$300K | Help for Homeowners | Homebuyer's Tax Credit | 4740IronHorse | Real Estate Video Visit | 710 Herbglen | 102 Navajo | 212 Limit | 2815 Bijou | Closing Costs | First Time Buyers | Home Buyer Checklist | For Buyers | Tell a Friend | Real Estate Glossary | Our Featured Homes | Home | Applying for a Loan | Your Down Payment | Your Buying Power | Writing the Offer | Loan Programs | Staging Checklist | Heart of the Matter | 9 Steps to Owning | Seller Paid Closing | Site Map | 15 vs 30 year Mortgage | Request Industry Info | 9 Steps to Ownership | Staging Your Home | Reasons Homes Don't Sell | Buying Foreclosures/REO's | Contingencies in Contracts | Fixer Uppers | Colorado Springs Blog

Copyright © 2010 The Hauber Realty Group
Portions Copyright © 2010 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.