Securing financing is just one part of a home purchase. Cherry Creek Properties is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of buying and selling.


Applying for a home loan

Stressed out about getting financing for a home purchase? You don't have to be. I have close business relationships with many lending companies in the Denver area, and they've helped me learn some things that make the loan application process very manageable.

1 – Assemble a list of questions regarding your loan program

Be sure you have a list of questions if you don't fully grasp the ins and outs of the different loan programs. I or one of my lenders will be able to help you understand the advantages and disadvantages of each program, because it can be hard to know the differences between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

By locking in an interest rate, your lender is keeping to the mortgage interest rates for the loan – commonly at the time the loan application is presented. By floating the rate, you can lock the rate at any time between application and issuance of closing documents. Those who opt 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 – Decide if you want to pay additional points to reduce your interest rate

When you opt to pay additional points to lower the interest rate of your loan, you'll do so by paying for them in cash at the time of closing. Each point is 1 percent of the loan. Click here to use our points calculator. This tool will assist you in deciding if buying points is right for you.

4 – Bring your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get all your documentation together. Click here to preview normal information that goes on a loan application.
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