Applying for your loan with help from Unicasa International USA Realty

Applying for financing can be one of the most demanding elements of buying a home for a buyer, but it doesn't have to be. I'm pretty connected to a lot of mortgage lenders in the Davie area, and they've helped me understand a few things that make the process of applying for a loan very manageable.

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

If you don't totally realize the pros and cons of all the different programs, be sure you bring a list of questions with you. It is hard to know the characteristics of fixed and adjustable rate mortgages. I or one of my trusted lenders will help you understand the advantages and disadvantages of each program.

2 – Determine when you want to lock

By locking in a rate, the lender is committing 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 the issuing of closing documents. Buyers who elect to float conclude that interest rates will drop 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

Normally 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 purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get your documents together. Click here for a list of common loan documentation.