Let Latte Stone Properties, LLC assist you with applying for a loan.

For many people, applying for financing is one of the most demanding aspects of purchasing a home, but it doesn't have to be. I'm pretty close to many lending companies in the Tamuning area, and they've helped me realize some things that make the loan application process very manageable.

1 – Put together a list of questions regarding your loan program

If you don't perfectly understand the pros and cons of all the various programs, make sure to have a list of questions. I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each one, because it can be hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when to lock

Locking in a rate denotes that the mortgage lender commits to the mortgage interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for your loan and at the time of closing. Those who prefer to float think the 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 reduce your rate

When you opt to pay additional points to lower the rate of your loan, you'll do so by paying for them in cash at the time of closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will help you decide if purchasing points is right for you.

4 – Bring your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get your documents together. Click here to get a list of general loan documentation.