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Getting your mortgage is just one part of a home purchase. Wright Real Estate is seasoned at assisting new and experienced in all areas of real estate. Call us today at (410) 479-2000 if your needs include a real estate pro ready for the business side of real estate.

Are you financing your home? Wright Real Estate can help.

When purchasing a home, applying for the loan is exasperating for a lot of people, but it doesn't have to be. Being close with some mortgage lenders in the Denton area has helped me recognize a few things that can make the process of applying for a loan very easy.

1 – Assemble a list of questions regarding your loan program

Make sure you have a list of questions with you if you do not thoroughly comprehend the ins and outs of the various loan programs. I or one of my lender contacts will be able to help you understand the advantages and disadvantages of each program, because it is a challenge to understand the characteristics of fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in the interest rate, a lender is sure to commit to the interest rates for the loan – normally at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day of your loan application and issuance of closing documents. Those who decide to float presume interest rates will plunge 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 elect to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at closing. Every point is 1 percent of the loan. If you're unsure as to whether or not purchasing points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here to see typical information that goes on a loan application.