
	Securing financing is just one part of getting into a new home. New Orleans Real Estate Brokerage is seasoned at assisting new and experienced in all areas of real estate. Call us today at (504) 891-2128 if your needs include a real estate pro ready for the business side of buying and selling.

Are you going to finance your home? New Orleans Real Estate Brokerage can help.

Securing the mortgage loan is one of the more stressful elements of buying a home. But it doesn't have to be. I've got great connections to many lenders in New Orleans, and they've helped me understand some things that can make the loan application process pretty simple.

1 – Organize a list of questions regarding your loan program

Make sure you have a list of questions with you if you find that you don't completely understand the advantages and disadvantages of the various programs. It can be a challenge understanding the differences between fixed and adjustable rate mortgages. I or one of my trusted lenders will help you understand the advantages and disadvantages of each.

2 – Decide when to lock

When you lock in an interest rate, it signifies that your mortgage lender guarantees the interest rates for the loan – normally at the time the loan application is received. By floating the rate, you can lock the rate anytime between application and the issuing of closing documents. Those who decide to float conclude interest rates will drop 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 reduce your interest rate

When you decide to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. To determine if buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to get a feel for normal information that goes on a loan application.

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Mortgage Calculator:

Sales Price:		$
Down:		%
Interest Rate:		%
Term:		yrs

Monthly payment:		$

Today's Rates:

Mtg Loan

Rate

APR

30-yr Fixed	3.87%	4%
15-yr Fixed	3.14%	3.31%
1-yr Adj	2.76%	3.42%

* national averages