Are you going to finance your home in Davie? Unicasa International USA Realty can help.

When buying a home, applying for the loan is very troublesome for many people, but it doesn't have to be. I'm pretty connected with some lending companies in the Davie area, and they've helped me learn some things that make the loan application process easy.

1 – Create a list of questions regarding your loan program

Be sure to bring a list of questions with you if you do not fully understand the pros and cons of the different loan programs. I or one of my lender contacts will help you understand the advantages and disadvantages of each one, because it's a challenge to know the characteristics of fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in the interest rate, a mortgage lender is guaranteed to commit to the interest rates for the loan – generally 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 your loan and at the time of closing. Buyers who decide to float think 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 lower your interest rate

When you decide to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. To determine if buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here for a list of general loan documentation.