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Securing financing is just one aspect of a real estate transaction. Utah Real Estate RealtyPath Platinum Real Estate is experienced at aiding both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.

Are you going to finance a new home in Sandy?

For a lot of people, applying for the mortgage loan can be one of the more exasperating parts of purchasing a home. But it doesn't have to be. We've got great connections to many mortgage lenders in Sandy, and they've helped me recognize some things that can make the process of applying for a loan much easier.

1 – Assemble a list of questions about your loan program

If you find that you don't fully realize the ins and outs of all the different programs, make sure you have a list of questions with you. It is often a challenge understanding the characteristics of both fixed and adjustable rate mortgages. One of our lenders or someone from our team will be able to assist you with understanding the advantages and disadvantages of both programs.

2 – Determine when you want to lock

By locking in a rate, your lender is holding to the interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between application and issuance of closing documents. Those who elect to float believe that the interest rates will fall 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 lower your rate

When 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 loan. If you're undecided as to whether or not buying points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to get a feel for general questions you'll have to answer on a loan app.