Applying for your home loan with the help of Unicasa International USA Realty

Applying for a loan can be one of the most stressful aspects of buying a house, but it doesn't have to be. I'm pretty familiar with many lending companies in Davie, and they've helped me understand some things that make the process of applying for a loan a breeze.

1 – Make a list of questions regarding your loan program

Be sure to have a list of questions with you if you find that you don't thoroughly understand the pros and cons of all the different loan programs. It's a challenge to know the characteristics of both fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of both programs.

2 – Determine when you want to lock

By locking in the rate, your lender is keeping to the interest rates for the loan – commonly at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and issuance of closing documents. Those 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 – Determine if you want to pay additional points to lower your interest rate

When you choose to pay additional points to lower the rate of your loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. To determine if you should buy points, click here to use our points calculator.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to get a list of typical loan documentation.