
	Securing financing is just one part of a home purchase. Century 21 New Millennium is seasoned at helping new and experienced in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.

Let Century 21 New Millennium assist you in applying for your new home loan.

Feeling lots of anxiety over applying for a mortgage? You don't have to be. Being close to several lending companies in the Waldorf area has helped me recognize some things that will make the loan application process effortless.

1 – Assemble a list of questions about your loan program

If you don't thoroughly realize the ins and outs of the different loan programs, make sure you have a list of questions. Oftentimes, it can be hard to understand the characteristics of fixed and adjustable rate mortgages. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each program.

2 – Decide when you want to lock

When you lock in the interest rate, it signifies that your lender keeps to the mortgage interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day of your loan application and closing. Those who elect to float think the interest rates will fall 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

Typically you can decide to pay additional points to lower the rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. To decide if purchasing points is right for you, click here to use our points calculator.

4 – Bring your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to preview normal information that goes on a loan application.