Let John-Mark Mitchell's Realty Group help you apply for your loan.

For many people, applying for the mortgage loan is one of the most stressful elements of purchasing a home, but it doesn't have to be. I'm very connected to several mortgage lenders in the Winston-Salem area, and they've helped me recognize some things that can make the loan application process uncomplicated.

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

Make sure to bring a list of questions with you if you find that you do not perfectly realize the advantages and disadvantages of all the various loan programs. I or one of my lender contacts can assist you with understanding the advantages and disadvantages of each one, because it is a challenge to know the characteristics of fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in a rate designates that the mortgage lender guarantees the interest rates for the loan – normally at the time the loan application is received. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Buyers who elect to float presume interest rates will fall 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 decide to pay additional points to lower the rate of your loan, you'll pay for them in cash at closing. Every point is 1 percent of the loan. Click here to use our points calculator. It will assist you in determining if purchasing points is right for you.

4 – Bring your paperwork

Obtaining a loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here for a list of common loan documentation.