Thomas-Chambers Company
BRE # 01208644 can help you apply for a home loan.

When purchasing a home, applying for a mortgage loan is very exasperating for many people, but it doesn't have to be. I have a close relationship with many lenders in Oakland, and they've helped me recognize a few things that make the process of applying for a loan uncomplicated.

1 – Put together a list of questions regarding your loan program

If you do not perfectly understand the advantages and disadvantages of all the various programs, be sure to bring a list of questions. It is a challenge to understand the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each program.

2 – Decide when you want to lock

When you lock in the rate, it means that a lender holds 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 anytime between the day of your loan application and closing. Those who decide to float conclude that interest rates will decline 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

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

4 – Gather your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here for a list of common loan documentation.