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Let Premier Realty Group, Inc. help you finance your home.

When buying a home, applying for a mortgage loan is a very distressing event for a lot of people, but it doesn't have to be. I have a close business relationship with a lot of lenders in the Stuart area, and they've helped me learn some things that make the process of applying for a loan very easy.

1 – Compile a list of questions about your loan program

If you find that you do not thoroughly understand the advantages and disadvantages of the different loan programs, be sure to bring a list of questions with you. It is a challenge understanding the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each.

2 – Determine when you want to lock

By locking in the interest rate, your mortgage lender is keeping to the interest rates for the loan – normally at the time the loan application is presented. 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 conclude 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 decrease your interest rate

Oftentimes you can elect 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. To determine if you should buy points, click here to use our points calculator.

4 – Bring 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.

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