
	Getting your loan locked down is just one part of a real estate transaction. David is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call me today at (571) 435-8037 if your needs include a professional REALTOR^® ready for buying and selling.

Coldwell Banker Residential Brokerage can assist you in applying for a loan.

Applying for a mortgage loan can be one of the more demanding parts of buying a house. But it doesn't have to be. I've got great connections to a lot of lenders in the Northern Virginia area, and they've helped me understand a few things that can make the process of applying for a loan pretty simple.

1 – Organize a list of questions regarding your loan program

Be sure you bring a list of questions with you if you find that you don't perfectly grasp the pros and cons of all the various loan programs. I or one of my trusted lenders can help you understand the advantages and disadvantages of each program, because it can be hard to know the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in an interest rate, it designates that a lender holds to the mortgage interest rates for the loan – ordinarily at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Buyers who decide to float presume that interest rates will fall 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

Typically you can choose to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. Click here to use our points calculator. It will assist you with determining if purchasing points is right for you.

4 – Bring your paperwork

Acquiring a loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to get a feel for typical information that goes on a loan application.

Today's Rates:

Mtg Loan

Rate

APR

30-yr Fixed	3.87%	4%
15-yr Fixed	3.14%	3.31%
1-yr Adj	2.76%	3.42%

* national averages

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