Do you want to finance a new home in Cypress? CONNIE SHUGART, Realtor can help.

For many people, applying for the loan can be one of the more troublesome parts of buying a house, but it doesn't have to be. Being connected to some lenders in Cypress has helped me understand a few things that will make the process of applying for a loan very manageable.

1 – Compose a list of questions regarding your loan program

If you don't fully comprehend the pros and cons of the various loan programs, make sure you have a list of questions with you. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of each one, because it can be hard to know the differences between both fixed and adjustable rate mortgages.

2 – Decide when to lock

Locking in the rate signifies that the lender keeps to the mortgage interest rates for the loan – usually at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Those who choose to float presume that the 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 lower your interest rate

When you decide to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. If you're unsure if buying points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

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