Are you going to finance a home in Elizabethtown? Penny Miller - 270.307.2703 can help.

Applying for the loan is one of the most demanding elements of buying a house, but it doesn't have to be. Having connections to several lending companies in Elizabethtown has helped me learn a few things that can make the process of applying for a loan a snap.

1 – Assemble a list of questions about your loan program

Be sure to bring a list of questions if you don't entirely comprehend the ins and outs of the various programs. It is a challenge to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of each one.

2 – Determine when you want to lock

When you lock in a rate, the lender is sure to commit to the interest rates for the loan – normally at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for the loan and at the time of closing. Buyers who choose to float presume that the interest rates will dip 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

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 closing. Every point is 1 percent of the loan. Click here to use our points calculator. This tool will help you decide if buying points is the best option for you.

4 – Bring your paperwork

Obtaining 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 normal loan documentation.

Need help finding the right loan?

Don't worry about searching everywhere to find the best options for securing your loan. With 25 years of experience, I can get you in touch with the right mortgage broker that will take care of your needs.

Title of this group of fields