Are you thinking of financing a new home in Fort lauderdale? Charles Rutenberg Realty, Fort Lauderdale, The Scott Todd / Mike Imperiale Team can help.

Applying for a loan is one of the most stressful aspects of purchasing a home for a buyer, but it doesn't have to be. Being connected with a lot of mortgage lenders in Fort lauderdale has helped me recognize some things that make the process of applying for a loan pretty simple.

1 – Organize a list of questions about your loan program

If you don't completely realize the pros and cons of all the various programs, make sure to bring a list of questions. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of each program, because it's a challenge to know the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

By locking in an interest rate, the lender is keeping to the interest rates for the loan – commonly at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for your loan and the issuing of closing documents. Buyers who opt to float believe that interest rates will fall 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 lower your interest rate

Usually you can opt to pay additional points to lower the rate of your mortgage 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 lots of paperwork, so you should take some time to get all your documentation together. Click here to get a list of general loan documentation.