
	Getting your loan locked down is just one part of getting into a new home. CENTURY 21 Paradise Properties is seasoned at helping new and experienced in all areas of real estate. Call us today at 310.691.5451 if your needs include a real estate pro ready for the business side of buying and selling.

Are you going to finance your home in Cabo San Lucas? CENTURY 21 Paradise Properties can help.

When purchasing a home, applying for the loan is demanding for a lot of people, but it doesn't have to be. I have excellent relationships with several mortgage lenders in the Cabo San Lucas area, and they've helped me recognize some things that can make the loan application process much easier.

1 – Create a list of questions regarding your loan program

Make sure to have a list of questions if you do not fully comprehend the ins and outs of all the various loan programs. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of each program, because it can be hard to understand the distinctions between fixed and adjustable rate mortgages.

2 – Determine when to lock

By locking in an interest rate, your mortgage lender is holding to the interest rates for the loan – often 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. Buyers who prefer to float believe 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 decrease your rate

Oftentimes you can decide to pay additional points to lower the interest rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. To decide if purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get your documents together. Click here to preview normal questions you'll have to answer on a loan app.