Looking to finance a new home? Brian L. A. Wess can help.

When buying a home, applying for the loan is demanding for a lot of people, but it doesn't have to be. I'm connected with many lenders in the Colorado Springs area, and they've helped me learn a few things that will make the process of applying for a loan a breeze.

1 – Compile a list of questions about your loan program

Make sure you bring a list of questions with you if you find that you do not perfectly comprehend the advantages and disadvantages of all the various loan programs. It is often a challenge understanding the distinctions between both fixed and adjustable rate mortgages. I or one of my lenders will be able to help you understand the advantages and disadvantages of each.

2 – Decide when you want to lock

When you lock in a rate, your mortgage lender is guaranteed to keep to the mortgage interest rates for the loan – generally at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for the loan and at the time of closing. Those who prefer to float believe the interest rates will fall 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 rate

If 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 the time of closing. Every point is 1 percent of the mortgage loan. If you're undecided as to whether or not purchasing points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to get a list of common loan documentation.

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Brian L. A. Wess

Infinite Horizons Realty

2910 N. Powers Blvd, #174
Colorado Springs, CO 80922