
	Getting your mortgage is just one aspect of a real estate transaction. Rose & Womble Realty is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR^® experienced at the business side of real estate.

Are you thinking about financing your new home? Rose & Womble Realty can help.

Stressed out about applying for a mortgage? You don't have to be. I have excellent relationships with a lot of mortgage lenders in Virginia Beach, and they've helped me learn a few things that will make the loan application process a breeze.

1 – Make a list of questions regarding your loan program

Be sure to have a list of questions with you if you find that you do not totally understand the advantages and disadvantages of all the various loan programs. I or one of my lenders can help you understand the advantages and disadvantages of each program, because it's hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in an interest rate, it signifies that your lender commits to the interest rates for the loan – typically 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. Buyers who decide to float believe 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 – Determine if you want to pay additional points to lower your rate

Typically you can choose to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. If you're uncertain as to whether or not purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to preview normal information that goes on a loan application.