
	Securing financing is just one part of a real estate transaction. Royal LePage State Realty Brokerage is seasoned at assisting new and experienced in all areas of real estate. Call us today at 905-574-4600 if your needs include a real estate pro experienced at the business side of buying and selling.

Do you want to finance a new home in Hamilton? Royal LePage State Realty Brokerage can help.

When buying a home, applying for financing is very stressful for a lot of people, but it doesn't have to be. I have close business relationships with many lending companies in the Hamilton area, and they've helped me understand some things that make the process of applying for a loan much easier.

1 – Compile a list of questions about your loan program

If you do not totally comprehend the pros and cons of the different financing options, be sure you bring a list of questions. I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each one, because it's a challenge to know the characteristics of fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in the interest rate, your mortgage lender is sure to keep to the interest rates for the loan – usually at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and closing. Those who prefer to float conclude 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 lower your rate

If you elect to pay additional points to lower the interest rate of your mortgage loan, you will pay for them in cash at closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. It will assist you with deciding if purchasing points is right for you.

4 – Gather your paperwork

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