Do you wish to finance your new home?

When buying a home, applying for the loan is a exasperating event for most people, but it doesn't have to be. I have a close business relationship with various lending companies in Fort lauderdale, and they've helped me recognize some things that will make the process of applying for a loan very easy.

1 – Make a list of questions regarding your loan program

If you find that you do not entirely realize the ins and outs of the different loan programs, be sure to have a list of questions with you. I or one of my lender contacts will help you understand the advantages and disadvantages of each one, because it's a challenge to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in a rate, it denotes that the lender holds to the interest rates for the loan – normally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for your loan and at the time of closing. Buyers who choose to float presume the 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

When you elect to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will assist you with determining if buying points is the best option for you.

4 – Bring your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to get a list of general loan documentation.