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Applying for a home loan in Stuart with help from Premier Realty Group, Inc.

Applying for the mortgage loan can be one of the most exasperating elements of purchasing a house for a buyer, but it doesn't have to be. I have a close business relationship with a lot of mortgage lenders in the Stuart area, and they've helped me understand a few things that will make the process of applying for a loan effortless.

1 – Compose a list of questions about your loan program

If you do not thoroughly comprehend the pros and cons of the different loan programs, be sure to have a list of questions. I or one of my lenders will help you understand the advantages and disadvantages of each one, because it is hard to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in a rate, it signifies that the lender holds to the interest rates for the loan – most often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for the loan and at the time of closing. Buyers who decide 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

Typically you can elect to pay additional points to lower the rate of your mortgage 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 help you determine if purchasing points is right for you.

4 – Gather your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to get a list of normal loan documentation.

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