Do you wish to finance a new home?

When purchasing a home, applying for a loan is a very stressful event for a lot of people, but it doesn't have to be. I'm pretty connected with many mortgage lenders in the Fort lauderdale area, and they've helped me realize a few things that will make the loan application process uncomplicated.

1 – Compose a list of questions about your loan program

Make sure to bring a list of questions if you don't thoroughly comprehend the ins and outs of all the various programs. At times, it can be hard to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my trusted lenders will help you understand the advantages and disadvantages of each program.

2 – Decide when to lock

Locking in an interest rate means that the lender keeps to the interest rates for the loan – ordinarily at the time the loan application is submitted. 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 elect to float presume that the interest rates will decline 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 rate

When you decide to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at the time of closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will assist you with deciding if buying points is right for you.

4 – Gather your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get your documents together. Click here for a list of common loan documentation.