Applying for a home loan in Oakland with help from Thomas-Chambers Company
BRE # 01208644

A lot of buyers think applying for mortgage financing is one of the more distressing elements of purchasing a house, but it doesn't have to be. Being connected to many lending companies in Oakland has helped me recognize a few things that make the loan application process pretty simple.

1 – Assemble a list of questions regarding your loan program

If you do not completely comprehend the pros and cons of the various loan programs, make sure to bring a list of questions with you. I or one of my lender contacts can assist you with understanding the advantages and disadvantages of each one, because it is a challenge to understand the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

Locking in the rate means that the lender keeps to the interest rates for the loan – generally at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day of your loan application and closing. Those who decide to float believe that interest rates will drop in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Decide if you want to pay additional points to decrease your rate

Normally you can decide to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. If you're undecided as to whether or not buying points is right for you, click here to use our points calculator.

4 – Gather your paperwork

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

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BRE # 01208644 may call/text you about your inquiry, which may involve use of automated means and prerecorded/artificial voices.. Message/data rates may apply.

Thomas-Chambers Company
BRE # 01208644

449 W MacArthur Blvd.
Oakland, CA 94609