Securing financing is just one aspect of a home purchase. CENTURY 21 Action Group is experienced at helping new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR® ready for the business side of real estate.

Thinking about financing a home in Yuma?

Stressed out about applying for a mortgage? You don't have to be. Being connected to several lending companies in the Yuma area has helped me learn a lot of the things that make the process of applying for a loan very manageable.

1 – Make a list of questions regarding your loan program

Be sure to have a list of questions with you if you don't fully understand the advantages and disadvantages of the various loan programs. I or one of my lenders can assist you with understanding the advantages and disadvantages of both programs, because it can be a challenge to understand the differences between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in an interest rate, it signifies that the mortgage lender guarantees the interest rates for the loan – commonly 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 the issuing of closing documents. Buyers who decide to float believe interest rates will plunge 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 reduce your interest rate

Usually you can decide 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 our points calculator. This tool will help you decide if buying points is right for you.

4 – Gather your paperwork

Acquiring a loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to get a feel for common information that goes on a loan application.