
	Getting your mortgage is just one aspect of a Prescott real estate transaction. Realty Executives Northern Arizona is experienced at assisting both new and experienced buyers alike in all areas of Prescott real estate. Contact us if your needs include a Prescott real estate pro ready for the business side of buying and selling.

Are you looking to finance a new Prescott home?

Securing the loan is one of the more troublesome parts of buying a Prescott home. But it doesn't have to be. I have close business relationships with a lot of lending companies in Prescott, and they've helped me realize a few things that can make the process of applying for a loan effortless.

1 – Assemble a list of questions regarding your loan program

Make sure to have a list of questions if you find that you don't totally grasp the advantages and disadvantages of the various loan programs. At times, it can be a challenge to understand the characteristics of fixed and adjustable rate mortgages. I or one of my lenders can assist you in understanding the advantages and disadvantages of both programs.

2 – Determine when to lock

When you lock in the interest rate, it means that your lender holds to the interest rates for the loan – normally 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 issuance of closing documents. Those who decide to float conclude that the interest rates will decline 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 lower your interest rate

When you choose to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the mortgage loan. If you're undecided on whether or not buying points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to get a feel for typical questions you'll have to answer on a loan app.

Realty Executives Northern Arizona 503 E. Gurley Prescott, AZ 86301

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