Are you financing your new home? Mickey Hambright can help.

For a lot of people, applying for a mortgage loan is one of the more troublesome parts of buying a house, but it doesn't have to be. Being familiar with several lending companies in the Landrum area has helped me recognize a few things that make the loan application process much easier.

1 – Compose a list of questions about your loan program

Be sure to bring a list of questions with you if you do not entirely realize the pros and cons of all the different loan programs. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of each program, because it is hard to know the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in a rate, it denotes that the lender holds to the mortgage interest rates for the loan – typically at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between application and issuance of closing documents. Buyers who opt to float conclude the interest rates will decline 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 decrease your rate

When you opt to pay additional points to lower the interest 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. Click here to use our points calculator. This tool will help you determine if purchasing points is the best option for you.

4 – Gather your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get all your documentation together. Click here to get a list of typical loan documentation.