Applying for a mortgage loan, loan rates, loan tips – RE/MAX Plus, Rochester, NY – Applying for a Loan, Rochester NY Mortgage Loan

Loan Application Checklist

For many buyers, applying for the mortgage loan is one of the more stressful aspects of buying a home. The loan application need not be a stressful time. By following a few easy steps, you'll sail through the loan application process.

Make a list of any questions you have about the loan program.
Be sure you understand the advantages and disadvantages of the various mortgage programs for which you may qualify, including the advantages and disadvantages of Fixed Rate Mortgages versus Adjustable Rate Mortgages.
Decide if you want to lock-in or float the loan's interest rate.
Locking-in the rate means that the lender commits to the mortgage interest rate for the loan - typically at the time the loan application is submitted. By floating the rate, you can lock-in the interest rate anytime between the loan application day and closing. Buyers opt to "float the loan" when they believe interest rates will drop after their loan application date and prior to closing. The risk is that rather than dropping, interest rates may rise, increasing the mortgage payment.
Decide if you want to pay additional points to lower your interest rate.
Typically you can elect to pay additional points (each point is 1 percent of the mortgage loan payable in cash at closing) to lower the interest rate of your mortgage loan.
Gather your paperwork.
Click here to view a list of typical loan documentation.

5. Now, share some basic information and you'll be on your way!

Welcome to our secure online loan application.
	Once you submit your information it will receive immediate attention by one of our representatives.

Borrower Information (Required information fields appear in bold)

First Name	M.I.	Last Name
Social Security Number - -		Date of Birth (MM/DD/YYYY) / /
Street	City	State	Zip
Home Phone - -		Business Phone - - x
Mobile/Pager/Alternate - -		Fax - -
Email Address
Contact Me at		Best Time to Call
Total Gross Yearly Income (Income Before Taxes) $
Total Monthly Debt Payments (including Alimony & Child Support) $
Current Employer		No. Years
Co-Borrower Information
Will there be a co-borrower on this loan? No co-borrower Spouse Other
First Name	M.I.	Last Name
Social Security Number - -		Date of Birth (MM/DD/YYYY) / /
Referral Information
Referred by

Loan Information

Loan Purpose	Loan Type
Property Type

Purchase Price
$

Amt Avail for Down Payment or Closing Costs
$

Do you authorize us to pull your and your co-borrower’s credit reports in order to pre-qualify you for a loan? (If so, please provide social security numbers and date of births).
Yes No

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