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Securing financing is just one part of getting into a new home. Orrell Associates, Inc. is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 8283968692 if your needs include a professional REALTOR® experienced at the business side of real estate.

Applying for your loan with the help of Orrell Associates, Inc.

Stressed out about getting financing for a home purchase? You don't have to be. Being close to various lenders in the Granite Falls area has helped me learn a lot of the things that will make the loan application process pretty simple.

1 – Create a list of questions about your loan program

If you do not perfectly realize the ins and outs of all the various financing options, be sure you have a list of questions with you. I or one of my trusted lenders will be able to assist you in understanding the advantages and disadvantages of each one, because it is hard to know the differences between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

By locking in the interest rate, the lender is guaranteeing the mortgage interest rates for the loan – typically at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between application and at the time of closing. Buyers who choose to float conclude that the interest rates will dip 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 lower your interest rate

When you opt to pay additional points to lower the interest 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. To determine if purchasing points is right for you, click here to use our points calculator.

4 – Bring your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to get a feel for typical questions you'll have to answer on a loan app.