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Premier Realty Group, Inc. can assist you in financing a home in Stuart.

Applying for a mortgage loan is one of the most troublesome parts of purchasing a home for a buyer, but it doesn't have to be. I'm very familiar with a lot of lending companies in Stuart, and they've helped me understand a few things that make the loan application process a breeze.

1 – Create a list of questions about your loan program

Be sure to bring a list of questions if you find that you don't entirely realize the advantages and disadvantages of the different loan programs. Oftentimes, it can be a challenge to understand the distinctions between fixed and adjustable rate mortgages. I or one of my lenders will help you understand the advantages and disadvantages of each program.

2 – Determine when to lock

By locking in the rate, the mortgage lender is holding to the mortgage interest rates for the loan – normally at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Buyers who prefer to float presume that interest rates will plunge 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 lower your interest rate

Oftentimes you can decide to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. To determine if purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

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

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