Applying for a new home loan in Point Reyes Station with the help of West Marin Real Estate

Applying for a loan can be one of the most exasperating aspects of purchasing a home for a buyer, but it doesn't have to be. Being connected to several lenders in Point Reyes Station has helped me understand some things that can make the process of applying for a loan effortless.

1 – Create a list of questions regarding your loan program

If you do not thoroughly realize the advantages and disadvantages of the different loan programs, make sure to bring a list of questions with you. Oftentimes, it can be a challenge understanding the characteristics of fixed and adjustable rate mortgages. I or one of my trusted lenders can help you understand the advantages and disadvantages of both programs.

2 – Decide when you want to lock

Locking in the interest rate designates that your mortgage lender holds to the mortgage interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for the loan and the issuing of closing documents. Those who decide to float conclude that interest rates will dip 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 decrease your rate

Oftentimes you can decide to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. It will assist you in deciding if purchasing points is right for you.

4 – Gather your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here for a list of normal loan documentation.

Mortgage Calculator

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Today's Rates

Mtg Loan Rate APR
30-yr Fixed 5.1% 5.17%
15-yr Fixed 4.4% 4.54%
1-yr Adj 3.78% 3.8%
* national averages
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