Securing financing is just one aspect of getting into a new home. Lighthouse Realty Inc. is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of buying and selling.

Let Lighthouse Realty Inc. assist you in applying for a home loan in Bay Village.

When purchasing a home, applying for a loan is stressful for most people, but it doesn't have to be. I have close business relationships with some reputable lending companies in the Bay Village area, and they've helped me recognize some things that will make the process of applying for a loan easy.



1 Create a list of questions regarding your loan program

Make sure to have a list of questions if you do not thoroughly understand the pros and cons of all the different programs. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each one, because it can be hard to understand the differences between fixed and adjustable rate mortgages.

2 Determine when to lock

When you lock in the rate, it indicates that your mortgage lender holds to the mortgage interest rates for the loan often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and closing. Those who decide to float believe that interest rates will decline in the near future.

3 Determine if you want to pay additional points to lower your interest rate

If you opt to pay additional points to lower the rate of your loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan.

4 Compile your paperwork

Acquiring a loan requires lots of paperwork, so you should take some time to get your documents together. Click here to get a feel for general questions you'll have to answer on a loan application.

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