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Are you financing a new home? Premier Realty Group, Inc. can help.

When buying a home, applying for the mortgage loan is a stressful event for a lot of people, but it doesn't have to be. Being familiar with many lenders in Stuart has helped me realize some things that make the process of applying for a loan effortless.

1 – Compose a list of questions about your loan program

If you do not perfectly realize the advantages and disadvantages of the different loan programs, make sure to bring a list of questions with you. I or one of my lenders can assist you in understanding the advantages and disadvantages of each program, because it can be hard to know the differences between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in a rate designates that your lender commits to the mortgage interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and closing. Those who choose to float think that interest rates will dip in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Decide if you want to pay additional points to decrease your interest rate

Usually you can opt to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. If you're undecided on whether or not purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here for a list of typical loan documentation.

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