Securing financing is just one aspect of a home purchase. Bay Home Investments and Loans is seasoned at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® experienced at the business side of real estate.


Applying for your home loan in San Lorenzo

Stressed out about getting financing for a home purchase? You don't have to be. Being connected with various lenders in the San Lorenzo area has helped me recognize a few things that can make the process of applying for a loan pretty simple.

1 – Make a list of questions about your loan program

Make sure to bring a list of questions with you if you find that you don't perfectly comprehend the ins and outs of all the different programs. I or one of my lenders will assist you with understanding the advantages and disadvantages of both programs, because it can be hard to know the differences between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in an interest rate, it indicates that a mortgage lender keeps to the interest rates for the loan – ordinarily at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Those who elect to float think 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 – Decide if you want to pay additional points to reduce your rate

When you decide to pay additional points to lower the interest rate of your loan, you'll pay for them in cash at closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. It will help you determine if purchasing points is the best option for you.

4 – Gather your paperwork

Obtaining a loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to preview general questions you'll have to answer on a loan app.

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