Looking to finance a new home in Fort lauderdale? Charles Rutenberg Realty, Fort Lauderdale, The Scott Todd / Mike Imperiale Team can help.

Applying for financing can be one of the most troublesome elements of purchasing a house, but it doesn't have to be. I have a close business relationship with various lenders in Fort lauderdale, and they've helped me realize some things that will make the loan application process a breeze.

1 – Put together a list of questions regarding your loan program

If you do not completely comprehend the ins and outs of all the different loan programs, be sure you have a list of questions. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each program, because it can be hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in a rate signifies that your lender commits to the mortgage interest rates for the loan – usually at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Those who opt to float conclude that interest rates will drop 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 decrease your interest rate

When you decide to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the loan. To decide if you should buy points, click here to use our points calculator.

4 – Gather your paperwork

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