Marvin Bush, Sales Associate/Team Leader DRE 01729105
Michelle Garcia, Sales Associate DRE 02101807
When buying a home, the loan application is very exasperating for most people, but it doesn't have to be. We have excellent relationships with many lending companies in the BAKERSFIELD area, and they've helped us recognize some things that can make the process of applying for a loan a snap.
If you find that you do not fully understand the advantages and disadvantages of the different financing options, make sure to bring a list of questions with you. It's a challenge to understand the distinctions between both fixed and adjustable rate mortgages. One of our lender contacts or associates will help you understand the advantages and disadvantages of both programs.
By locking in the rate, the lender is committing to the interest rates for the loan ? typically at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day of your loan application and the issuing of closing documents. Those who elect to float presume that the interest rates will drop in the near future. Click here to see the outlook for the next 90 days of interest rates.
Generally you can opt to pay additional points to lower the rate of your loan. Every point is 1 percent of the loan and is payable in cash at closing. If you're unsure as to whether or not buying points is right for you, click here to use our points calculator.
Getting a loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to see general information that goes on a loan application.
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.