
	Getting your mortgage is just one part of a real estate transaction. Craig Connelly is experienced at helping new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR^® experienced at the business side of real estate.

Looking to finance a new home?

Feeling lots of anxiety over getting financing for a home purchase? You don't have to be. Having connections to many lending companies in the Lexington area has helped me recognize a lot of the things that make the process of applying for a loan much easier.

1 – Create a list of questions about your loan program

If you don't perfectly comprehend the advantages and disadvantages of all the different financing options, make sure to have a list of questions. It is a challenge to know the characteristics of both fixed and adjustable rate mortgages. I or one of my trusted lenders can help you understand the advantages and disadvantages of both programs.

2 – Decide when you want to lock

When you lock in an interest rate, it denotes that the lender keeps to the interest rates for the loan – typically at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between application and at the time of closing. Those who prefer to float believe that interest rates will plunge 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 interest rate

Normally you can opt to pay additional points to lower the interest rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will assist you with determining if purchasing points is right for you.

4 – Compile your paperwork

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