Getting your loan locked down is just one part of getting into a new home. eRealty & Loans, Inc. 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 experienced at the business side of buying and selling.


Thinking about financing a home?

Feeling lots of anxiety over applying for a mortgage? You don't have to be. I've got great connections to various lenders in Cupertino, and they've helped me understand a few things that will make the process of applying for a loan a snap.

1 – Create a list of questions regarding your loan program

If you do not perfectly understand the ins and outs of the different loan programs, make sure to have a list of questions with you. I or one of my lender contacts will be able to help you understand the advantages and disadvantages of each one, because it is a challenge to understand the characteristics of fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in the interest rate, your mortgage lender is guaranteed to hold to the interest rates for the loan – ordinarily 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 issuance of closing documents. Those who opt to float presume that 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 reduce your interest rate

Oftentimes you can choose to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. It will assist you with determining if purchasing points is right for you.

4 – Bring your paperwork

Acquiring a loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to preview general questions you'll have to answer on a loan app.

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