Thinking of financing a new home? SMART MOVE, REALTORS can help.

When buying a home, applying for a loan is very stressful for most people, but it doesn't have to be. I'm pretty connected to many lending companies in Columbus, and they've helped me understand some things that will make the process of applying for a loan much easier.

1 – Put together a list of questions about your loan program

If you do not totally understand the ins and outs of all the different loan programs, be sure to bring a list of questions with you. It's a challenge understanding the characteristics of both fixed and adjustable rate mortgages. I or one of my 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, a mortgage lender is sure to commit to the interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the loan application day and the issuing of closing documents. Buyers who choose to float believe that interest rates will plunge 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 lower your rate

Typically you can opt to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. If you're not sure if purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Getting a loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to get a list of normal loan documentation.