Thinking about financing your new home? FirstPoint Real Estate can help.

Applying for a mortgage loan can be one of the most distressing elements of buying a house, but it doesn't have to be. I have a close relationship with various mortgage lenders in Puyallup, and they've helped me understand a few things that make the loan application process uncomplicated.

1 – Create a list of questions regarding your loan program

Be sure to bring a list of questions if you find that you don't perfectly understand the pros and cons of the various programs. It can be hard to understand the differences between both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of each.

2 – Decide when you want to lock

When you lock in the interest rate, it designates that your lender keeps to the interest rates for the loan – usually 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 think interest rates will drop 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 decrease your rate

If you elect to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at the time of closing. Every point is 1 percent of the loan. To determine if buying points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here for a list of general loan documentation.