Are you looking to finance your new home? CONNIE SHUGART, Realtor can help.

For many people, applying for financing can be one of the more exasperating elements of buying a house, but it doesn't have to be. I'm pretty familiar with many lending companies in Cypress, and they've helped me recognize some things that will make the loan application process uncomplicated.

1 – Create a list of questions about your loan program

Be sure you have a list of questions if you find that you don't thoroughly understand the ins and outs of the different loan programs. It can be a challenge to know the distinctions between fixed and adjustable rate mortgages. I or one of my lenders will assist you with understanding the advantages and disadvantages of each.

2 – Determine when you want to lock

When you lock in an interest rate, the lender is guaranteed to commit to the interest rates for the loan – usually at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day of your loan application and the issuing of closing documents. Those who choose to float think interest rates will drop 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

Generally you can decide to pay additional points to lower the rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will help you determine if purchasing points is right for you.

4 – Bring your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here for a list of typical loan documentation.