Getting your loan locked down is just one aspect of a real estate transaction. Unicasa International USA Realty is seasoned at aiding new and experienced in all areas of real estate. Call me today at (954) 598-0700 if your needs include a real estate pro experienced at the business side of real estate.

Applying for a home loan

For most people, applying for the mortgage loan can be one of the more stressful elements of purchasing a house. But it doesn't have to be. Being close with several lending companies in Davie has helped me learn a lot of the things that make the loan application process uncomplicated.

1 – Assemble a list of questions about your loan program

Be sure you bring a list of questions if you find that you don't thoroughly comprehend the ins and outs of all the various loan programs. One of my lenders or I will be able to assist you with understanding the advantages and disadvantages of both programs, because it can be hard to understand the differences between both fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in the rate, it signifies that a mortgage lender commits to the interest rates for the loan – ordinarily at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the loan application day and the issuing of closing documents. Those who choose to float think that interest rates will plunge 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 reduce your interest rate

If you opt to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. If you're uncertain as to whether or not purchasing points is the best option for you, click here to use my points calculator.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to preview common questions you'll have to answer on a loan app.

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