Home Our Featured Homes Why Choose Me! Contact Us

Are you thinking of financing your home in Stuart?

When buying a home, applying for financing is a stressful event for most people, but it doesn't have to be. I have a close relationship with several lenders in the Stuart area, and they've helped me understand a few things that can make the process of applying for a loan a snap.

1 – Assemble a list of questions about your loan program

Make sure you bring a list of questions with you if you find that you do not fully comprehend the pros and cons of all the various loan programs. At times, it can be a challenge to know the characteristics of fixed and adjustable rate mortgages. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each program.

2 – Decide when to lock

By locking in the interest rate, your mortgage lender is holding to the interest rates for the loan – normally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for your loan and at the time of closing. Those who elect to float think interest rates will drop 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 reduce your interest rate

Typically you can opt to pay additional points to lower the rate of your loan. Every 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 in deciding if buying points is right for you.

4 – Compile your paperwork

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

Ask Roz...

By checking the box, you agree that Premier Realty Group, Inc. may call/text you about your inquiry, which may involve use of automated means and prerecorded/artificial voices.. Message/data rates may apply.