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Let Premier Realty Group, Inc. assist you in applying for your new home loan in Stuart.

When purchasing a home, applying for a mortgage loan is very distressing for many people, but it doesn't have to be. Being close with a lot of lenders in Stuart has helped me understand some things that make the process of applying for a loan easy.

1 – Organize a list of questions about your loan program

Make sure to have a list of questions with you if you find that you do not fully comprehend the advantages and disadvantages of the different loan programs. I or one of my lender contacts will be able to help you understand the advantages and disadvantages of both programs, because it can be hard to know the characteristics of fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in an interest rate, your mortgage lender is guaranteed to keep to the mortgage interest rates for the loan – generally 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 decide to float conclude that the 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 decrease your rate

If you choose to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will help you determine if purchasing points is right for you.

4 – Compile your paperwork

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

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