Licensed New York State Real Estate Broker GRI I, II, II (by John Mellencamp)

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Applying for a Home Loan

The best thing to do before you start looking for a home, is to call a banker and get pre-qualified. This is a simple phone call that takes about 15 minutes. After you have done this, please ask the banker to fax us your pre-qualification. This process will save a lot of time for both of us. There are a couple of bankers names at the bottom of this page that you may want to try first.

For many buyers, applying for the mortgage loan is one of the more stressful aspects of buying a home. The loan application need not be a stressful time. By following a few easy steps, you'll sail through the loan application process.

  1. Make a list of any questions you have about the loan program.
    Be sure you understand the advantages and disadvantages of the various mortgage programs for which you may qualify, including the advantages and disadvantages of Fixed Rate Mortgages versus Adjustable Rate Mortgages.
  2. Decide if you want to lock-in or float the loans interest rate.
    Locking-in the rate means that the lender commits to the mortgage interest rate for the loan typically at the time the loan application is submitted. By floating the rate, you can lock-in the interest rate anytime between the loan application day and closing. Buyers opt to float the loan when they believe interest rates will drop after their loan application date and prior to closing. The risk is that rather than dropping, interest rates rise, increasing the mortgage payment.
  3. Decide if you want to pay additional points to lower your interest rate.
    Typically you can elect to pay additional points (each point is 1 percent of the mortgage loan payable in cash at closing) to lower the interest rate of your mortgage loan.
  4. Gather your paperwork.
    Click here to view a list of typical loan documentation.

Here a couple of names of local mortgage executives that you may want to try: (This is for the convenience of the buyer(s) only. Nancy D. Storino Real Estate does not make any recommendations. If you already have a banker, all we will need is their contact information, and we would be happy to work with them as well.)

Rochester Area Mortgage Services, Inc.
Julie Derrigo-Intschert
(315)788-7813 or 888-788-7822

Countrywide Home Loans
Patrick Wolf 
(W) 315-785-1948 or (C) 315-746-0154



P.S. If you're not ready to meet in person, please tour through my website. I'm sure you'll find the resources here useful and helpful. Enjoy!