Let Charles Rutenberg Realty, Fort Lauderdale, The Scott Todd / Mike Imperiale Team help you apply for your new home loan in Fort lauderdale.
Applying for a mortgage loan is one of the most stressful parts of buying a house for a buyer, but it doesn't have to be.
I'm well-connected to various mortgage lenders in the Fort lauderdale area, and they've helped me recognize a few things that make the loan application process pretty simple.
1 – Assemble a list of questions about your loan program
Be sure you bring a list of questions with you if you find that you don't perfectly understand the ins and outs of all the various programs.
I or one of my lender contacts will be able to assist you in understanding the advantages and disadvantages of both programs, because it is hard to understand the characteristics of fixed and adjustable rate mortgages.
2 – Decide when to lock
By locking in a rate, a lender is holding to the mortgage interest rates for the loan – ordinarily at the time the loan application is presented.
By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Buyers who prefer 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 – Determine if you want to pay additional points to lower your interest rate
Usually you can opt to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the loan and is payable in cash at closing.
Click here to use our points calculator. It will help you decide if buying points is right for you.
4 – Bring your paperwork
Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here for a list of typical loan documentation.