Applying for your home loan in Rancho Palos Verdes with the help of Excel Funding Real Estate Services, Inc.

Applying for financing is one of the most troublesome elements of buying a house, but it doesn't have to be. I'm very well-connected to various lenders in the Rancho Palos Verdes area, and they've helped me realize some things that will make the process of applying for a loan very manageable.

1 – Put together a list of questions regarding your loan program

If you find that you do not thoroughly understand the advantages and disadvantages of the different loan programs, make sure you have a list of questions. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of both programs, because it's hard to know the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

By locking in a rate, the mortgage lender is committing to the interest rates for the loan – most often at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the loan application day and closing. Buyers who prefer to float conclude interest rates will dip 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

If you decide to pay additional points to lower the interest rate of your 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 assist you with determining if buying points is the best option for you.

4 – Compile your paperwork

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

Excel Funding Real Estate Services, Inc.

28924 South Western Avenue, Suite 110
Rancho Palos Verdes, CA 90275