Thinking about financing your home? Unicasa International USA Realty can help.

When purchasing a home, applying for financing is very demanding for many people, but it doesn't have to be. I'm close to some lending companies in Davie, and they've helped me learn some things that can make the process of applying for a loan effortless.

1 – Compose a list of questions regarding your loan program

Make sure you bring a list of questions with you if you find that you do not fully comprehend the advantages and disadvantages of the various programs. I or one of my lender contacts will be able to assist you in understanding the advantages and disadvantages of each one, because it is hard to understand the distinctions between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in an interest rate, the lender is sure to hold 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 of your loan application and the issuing of closing documents. Buyers who decide to float believe interest rates will fall 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 opt to pay additional points to lower the rate of your mortgage loan, you will do so by paying for them in cash at closing. Every point is 1 percent of the mortgage loan. If you're not sure if purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Acquiring a loan requires a lot of paperwork, so you should take some time to get all your documentation together. Click here for a list of common loan documentation.

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