Let John Horton Realty assist you in applying for your home loan in Austin.

Applying for financing can be one of the most exasperating parts of purchasing a house, but it doesn't have to be. Being familiar with some mortgage lenders in the Austin area has helped me learn a few things that will make the process of applying for a loan easy.

1 – Organize a list of questions regarding your loan program

Be sure to bring a list of questions with you if you do not thoroughly comprehend the pros and cons of all the various programs. I or one of my lenders will be able to assist you in understanding the advantages and disadvantages of each one, because it can be a challenge to know the differences between both fixed and adjustable rate mortgages.

2 – Decide when to lock

Locking in the interest rate signifies that the mortgage lender guarantees the interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Those who choose to float believe that interest rates will dip 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 lower your rate

If you decide to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the loan. Click here to use our points calculator. This tool will help you decide if purchasing points is the best option for you.

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to get a list of common loan documentation.