Securing financing is just one part of a real estate transaction. Shelton Land & Homes, LLC is experienced at assisting new and experienced in all areas of real estate. Call us today at (360) 426-5555 if your needs include a professional Real Estate Professional ready for the business side of buying and selling.

Applying for your loan

Feeling lots of anxiety over getting financing for a home purchase? You don't have to be. Being connected with some lenders in the Shelton area has helped us understand a lot of the things that will make the loan application process very manageable.

1 – Create a list of questions about your loan program

Make sure to have a list of questions with you if you don't perfectly comprehend the pros and cons of the various loan programs. Oftentimes, it can be a challenge to understand the distinctions between both fixed and adjustable rate mortgages. One of our lenders or associates can help you understand the advantages and disadvantages of both.

2 – Decide when to lock

When you lock in the rate, it denotes that the mortgage lender holds to the interest rates for the loan – most often at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for the loan and at the time of closing. Those who prefer to float believe interest rates will decline 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 interest rate

Normally you can decide to pay additional points to lower the rate of your loan. Each point is 1 percent of the loan and is payable in cash at closing. To decide if buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

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

Looking to Buy?

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