Applying for a home loan in Fort lauderdale with help from Charles Rutenberg Realty, Fort Lauderdale, The Scott Todd / Mike Imperiale Team

Most buyers believe that applying for financing is one of the more exasperating aspects of buying a home, but it doesn't have to be. I'm pretty connected with many lending companies in the Fort lauderdale area, and they've helped me understand some things that make the loan application process very manageable.

1 – Assemble a list of questions about your loan program

If you do not entirely understand the advantages and disadvantages of all the different programs, be sure you have a list of questions with you. Oftentimes, it can be a challenge to understand the characteristics of both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of both.

2 – Decide when you want to lock

Locking in a rate designates that your mortgage lender holds to the mortgage interest rates for the loan – usually at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day you apply for your loan and issuance of closing documents. Those who opt to float think the interest rates will dip 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 decrease your rate

Generally you can choose to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. 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

Obtaining a mortgage loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to get a list of typical loan documentation.