Are you financing your home in Davie? Unicasa International USA Realty can help.

Applying for a mortgage loan can be one of the most demanding aspects of purchasing a house, but it doesn't have to be. I have a close business relationship with some lending companies in Davie, and they've helped me learn some things that will make the process of applying for a loan very easy.

1 – Put together a list of questions about your loan program

If you find that you don't thoroughly comprehend the pros and cons of the different programs, make sure you have a list of questions. It is a challenge to know the distinctions between both fixed and adjustable rate mortgages. I or one of my lenders can help you understand the advantages and disadvantages of both.

2 – Decide when you want to lock

When you lock in a rate, it designates that your mortgage lender holds 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 anytime between the day of your loan application and issuance of closing documents. Buyers who choose to float believe that interest rates will decline 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 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. If you're not sure if buying points is right for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a 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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