
	Getting your loan locked down is just one aspect of a home purchase. RE/MAX CENTRAL is seasoned at helping both new and experienced buyers alike 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.

Do you wish to finance your new home in Las Vegas?

Stressed out about applying for a mortgage? You don't have to be. I have close business relationships with many mortgage lenders in the Las Vegas area, and they've helped me learn some things that can make the process of applying for a loan a breeze.

1 – Assemble a list of questions about your loan program

Be sure you bring a list of questions with you if you don't totally grasp the pros and cons of all the different programs. I or one of my lender contacts will be able to assist you in understanding the advantages and disadvantages of each one, because it can be a challenge to understand the differences between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in signifies that the mortgage lender guarantees the interest rates for the loan – normally at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for the loan and the issuing of closing documents. Those who elect to float think the interest rates will dip 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 reduce your interest rate

Typically you can opt to pay additional points to lower the rate of your loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. If you're uncertain if purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a loan requires lots of paperwork, so you should take some time to get your documents together. Click here to see common information that goes on a loan application.

* MOL = More or Less