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Are you going to finance a home? Premier Realty Group, Inc. can help.

When purchasing a home, applying for a mortgage loan is a very distressing event for many people, but it doesn't have to be. I'm connected with some lenders in Stuart, and they've helped me recognize some things that make the loan application process effortless.

1 – Create a list of questions about your loan program

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

2 – Decide when you want to lock

Locking in designates that the lender holds to the mortgage interest rates for the loan – commonly at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the loan application day and the issuing of closing documents. Buyers who prefer to float think 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

Normally you can elect to pay additional points to lower the interest rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. It will assist you with deciding if buying points is the best option for you.

4 – Bring your paperwork

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

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