
	Securing financing is just one part of a home purchase. MKB Realtors is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call us today at (540) 989-4555 if your needs include a professional REALTOR^® experienced at the business side of real estate.

Are you looking to finance your new home in Roanoke?

When buying a home, applying for financing is very demanding for many people, but it doesn't have to be. Having connections with many lenders in Roanoke has helped me recognize some things that can make the loan application process very manageable.

1 – Compose a list of questions regarding your loan program

Be sure you have a list of questions if you find that you do not completely comprehend the pros and cons of all the different programs. It is a challenge to know the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of each program.

2 – Determine when you want to lock

Locking in a rate designates that a mortgage lender keeps to the mortgage 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 closing. Buyers who decide to float believe the interest rates will drop 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 choose to pay additional points to lower the rate of your mortgage loan, you will pay for them in cash at closing. Every point is 1 percent of the loan. Click here to use our points calculator. It will help you determine if buying points is right for you.

4 – Gather your paperwork

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