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Getting your loan locked down is just one part of getting into a new home. Hanley Agency, Inc. is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® experienced at the business side of buying and selling.

Hanley Agency, Inc. can assist you in applying for a new home loan in Pittsburgh.

Applying for the loan can be one of the most stressful parts of buying a house. But it doesn't have to be. We have close business relationships with a lot of mortgage lenders in Pittsburgh, and they've helped us recognize a few things that make the process of applying for a loan easy.

1 – Compile a list of questions about your loan program

Be sure to have a list of questions with you if you do not thoroughly comprehend the pros and cons of the different programs. It is often a challenge to understand the differences between fixed and adjustable rate mortgages. One of our lenders or someone from our team will be able to assist you with understanding the advantages and disadvantages of both.

2 – Decide when to lock

When you lock in an interest rate, the mortgage lender is guaranteed to commit to the mortgage interest rates for the loan – often at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Buyers who opt to float conclude that 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

When you elect to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the loan. To determine if buying points is the best option for you, click here to use my points calculator.

4 – Gather your paperwork

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

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