Unicasa International USA Realty can help you apply for a loan.

A lot of people believe applying for a loan is one of the most distressing parts of purchasing a home, but it doesn't have to be. I have a close business relationship with several lending companies in the Davie area, and they've helped me understand a few things that will make the loan application process very manageable.

1 – Compile a list of questions regarding your loan program

If you do not fully comprehend the advantages and disadvantages of all the various programs, be sure you bring a list of questions. I or one of my lenders can assist you with understanding the advantages and disadvantages of each program, because it can be hard to know the differences between fixed and adjustable rate mortgages.

2 – Decide when to lock

By locking in the rate, a lender is committing to the interest rates for the loan – often at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for your loan and at the time of closing. Buyers who elect to float think interest rates will plunge 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 rate

When you choose to pay additional points to lower the rate of your mortgage loan, you'll pay for them in cash at closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will help you decide if purchasing points is the best option for you.

4 – Compile your paperwork

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

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