Let Latte Stone Properties, LLC help you apply for your loan.

For most people, applying for financing is one of the most distressing parts of buying a home, but it doesn't have to be. I have a close business relationship with a lot of lending companies in the Tamuning area, and they've helped me understand a few things that make the process of applying for a loan effortless.

1 – Assemble a list of questions regarding your loan program

If you find that you don't perfectly realize the ins and outs of the different loan programs, be sure you have a list of questions with you. I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of both programs, because it's hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in the interest rate, the mortgage lender is committing to the interest rates for the loan – generally at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for the loan and issuance of closing documents. Those who choose to float conclude that the interest rates will decline 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 rate

If you choose to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Each point is 1 percent of the loan. To decide if you should buy points, click here to use our points calculator.

4 – Compile your paperwork

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