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Getting your mortgage is just one aspect of a real estate transaction. Crites Realty is experienced at aiding both new and experienced buyers alike in all areas of real estate. Call us today at (614) 451-2439 if your needs include a professional REALTOR® experienced at the business side of real estate.

Are you going to finance a new home?

Feeling lots of anxiety over getting financing for a home purchase? You don't have to be. I have close business relationships with a lot of mortgage lenders in the Columbus area, and they've helped me understand a few things that will make the loan application process uncomplicated.

1 – Compose a list of questions about your loan program

Make sure you bring a list of questions if you find that you do not totally understand the advantages and disadvantages of all the various programs. It's hard to know the characteristics of both fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each program.

2 – Decide when to lock

When you lock in the interest rate, it indicates that your lender guarantees the mortgage interest rates for the loan – generally at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between application and closing. Those who opt to float believe interest rates will decline 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 interest rate

If you decide to pay additional points to lower the rate of your loan, you'll pay for them in cash at closing. Each point is 1 percent of the loan. To decide if you should buy points, click here to use our points calculator.

4 – Bring your paperwork

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