
	Getting your loan locked down is just one part of getting into a new home. Reinhart Realtors is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Call us today at (734) 669-5882 if your needs include a professional REALTOR^® experienced at the business side of real estate.

Are you financing your new home in Ann Arbor? Reinhart Realtors can help.

Feeling lots of anxiety over applying for a mortgage? You don't have to be. Having connections with some lenders in the Ann Arbor area has helped me understand some things that can make the process of applying for a loan a breeze.

1 – Create a list of questions about your loan program

If you do not entirely comprehend the ins and outs of the various financing options, be sure you bring a list of questions. I or one of my trusted lenders will assist you in understanding the advantages and disadvantages of each program, because it can be hard to know the characteristics of fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in the rate, it indicates that your mortgage lender commits to the interest rates for the loan – commonly at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day of your loan application and the issuing of closing documents. Buyers who prefer to float conclude that the 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 reduce your rate

When you opt to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. To determine if you should purchase points, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to see typical information that goes on a loan application.