Do you wish to finance your new home in Fort lauderdale?

When purchasing a home, applying for the loan is a very distressing event for many people, but it doesn't have to be. Being close to several mortgage lenders in the Fort lauderdale area has helped me recognize some things that make the loan application process much easier.

1 – Make a list of questions regarding your loan program

Be sure to have a list of questions with you if you find that you don't totally understand the pros and cons of the various loan programs. I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each one, because it can be hard to understand the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in the interest rate, the lender is guaranteed to commit to the interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Buyers who elect to float presume interest rates will drop 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 rate

When you choose to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. Click here to use our points calculator. It will assist you with determining if purchasing points is right for you.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to get a list of typical loan documentation.