Getting your mortgage is just one aspect of a real estate transaction. WHY USA Eastern Iowa Realty is seasoned at helping both new and experienced buyers alike in all areas of real estate. Call us today at (319) 360-7139 if your needs include a real estate pro experienced at the business side of buying and selling.


WHY USA Eastern Iowa Realty can assist you in applying for your new home loan in Cedar Rapids.

Feeling lots of anxiety over applying for a mortgage? You don't have to be. Being familiar with several lenders in the Cedar Rapids area has helped me realize some things that can make the loan application process uncomplicated.

1 – Create a list of questions regarding your loan program

If you don't fully understand the pros and cons of all the different loan programs, be sure you bring a list of questions. I or one of my lender contacts will help you understand the advantages and disadvantages of each program, because it is hard to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in a rate, it means that your mortgage lender holds to the interest rates for the loan – usually at the time the loan application is presented. By floating the rate, you can lock the rate anytime between application and at the time of closing. Buyers who elect to float conclude interest rates will decline 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

Typically you can opt to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. Click here to use our points calculator. It will assist you in deciding if buying points is the best option for you.

4 – Gather your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to see typical questions you'll have to answer on a loan app.

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