Be sure to have a list of questions if you find that you don't totally understand the advantages and disadvantages of all the different programs. One of my lender contacts or I will help you understand the advantages and disadvantages of each program, because it's hard to know the distinctions between both fixed and adjustable rate mortgages.

When you lock in the interest rate, it designates that a mortgage lender holds to the mortgage interest rates for the loan – most often at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Buyers who choose to float presume that interest rates will drop in the near future. 

When you choose to pay additional points to lower the rate of your loan, you'll pay for them in cash at the time of closing. Each point is 1 percent of the loan.

Getting a loan requires a lot of paperwork, so you should take some time to get all your documentation together.

As a Valley real estate professional, I analyze home values and determine market prices every day. By comparing your home to recent sales and other, similar homes on the market I can quickly tell you what your home is worth. This analysis is known as "Comparative Market Analysis", or CMA. Just email your address and any information relevant to the value of your home and I'll be glad to perform a CMA for your home and provide you the results for free.