Applying for a home loan with the help of Unicasa International USA Realty
When buying a home, applying for financing is a very distressing event for most people, but it doesn't have to be.
I have a close relationship with a lot of lenders in the Davie area, and they've helped me recognize some things that can make the process of applying for a loan a snap.
1 – Make a list of questions regarding your loan program
Make sure to have a list of questions with you if you find that you don't thoroughly realize the ins and outs of the different programs.
I or one of my lender contacts can assist you with understanding the advantages and disadvantages of each one, because it's a challenge to know the differences between both fixed and adjustable rate mortgages.
2 – Decide when to lock
Locking in a rate signifies that a lender commits to the interest rates for the loan – usually at the time the loan application is submitted.
By floating the rate, you can lock the rate at any time between the loan application day and closing. Those who decide to float presume that the interest rates will dip 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 lower your interest rate
If you decide to pay additional points to lower the rate of your loan, you'll pay for them in cash at closing. Each point is 1 percent of the mortgage loan.
Click here to use our points calculator. This tool will assist you in determining if buying points is right for you.
4 – Bring your paperwork
Getting a mortgage loan requires lots of paperwork, so you should take some time to get all your documents together. Click here for a list of common loan documentation.