Securing financing is just one aspect of a real estate transaction. Commercial First Realty & A Solar Rose residential services is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact me if your needs include a professional REALTOR® ready for the business side of real estate.

Are you going to finance a home? Commercial First Realty & A Solar Rose residential services can help.

When buying a home, the mortgage loan application is distressing for many people, but it doesn't have to be. I have excellent relationships with a lot of lending companies in Albuquerque, and they've helped me realize some things that can make the loan application process very easy.

1 – Make a list of questions regarding your loan program

If you find that you do not entirely realize the ins and outs of the different loan programs, be sure you have a list of questions with you. One of my lenders or I will assist you in understanding the advantages and disadvantages of both programs, because it's hard to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in the interest rate, your mortgage lender is sure to commit to the interest rates for the loan – typically at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for the loan and issuance of closing documents. Buyers who prefer to float believe 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 reduce your interest rate

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

4 – Compile your paperwork

Acquiring a loan requires lots of paperwork, so you should take some time to get your documents together. Click here to see general questions you'll have to answer on a loan app.