Applying for a Loan


	Getting your loan locked down is just one part of a real estate transaction. RE/MAX Premier Properties is experienced at helping new and experienced 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.

Let RE/MAX Premier Properties help you apply for your home loan in Aspen.

For many people, applying for a mortgage loan is one of the more distressing parts of buying a home. But it doesn't have to be. I have close business relationships with several mortgage lenders in the Aspen area, and they've helped me recognize some things that can make the process of applying for a loan very manageable.

1 – Make a list of questions about your loan program

Be sure to bring a list of questions with you if you don't entirely understand the advantages and disadvantages of all the different loan programs. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of each one, because it's hard to know the characteristics of fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in a rate, your lender is guaranteed to hold to the interest rates for the loan – ordinarily at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between application and closing. Buyers who elect to float believe that interest rates will drop 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

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

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to get a feel for common information that goes on a loan application.