Thinking about financing your home? John Horton Realty can help.

Many people believe that applying for mortgage financing is one of the most exasperating aspects of buying a house, but it doesn't have to be. I'm very well-connected to some mortgage lenders in Austin, and they've helped me learn a few things that will make the process of applying for a loan a snap.

1 – Compose a list of questions about your loan program

If you find that you do not thoroughly understand the advantages and disadvantages of all the various loan programs, make sure you have a list of questions with you. I or one of my lenders will help you understand the advantages and disadvantages of each program, because it's a challenge to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in the interest rate, your lender is guaranteed to keep to the mortgage interest rates for the loan – most often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Buyers who opt to float conclude the interest rates will drop 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 decrease your rate

Oftentimes you can decide 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 the time of closing. Click here to use our points calculator. It will help you decide if buying points is right for you.

4 – Bring your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get all your documentation together. Click here for a list of typical loan documentation.