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

Applying for the loan is one of the most exasperating parts of buying a home for a buyer, but it doesn't have to be. I'm very connected to various lenders in Davie, and they've helped me understand a few things that can make the process of applying for a loan much easier.

1 – Create a list of questions regarding your loan program

Make sure you bring a list of questions with you if you find that you don't entirely understand the advantages and disadvantages of all the various loan programs. I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each program, because it can be hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in the interest rate, it indicates that a mortgage lender keeps to the mortgage interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for the loan and issuance of closing documents. Those who choose 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 – Decide if you want to pay additional points to decrease your interest rate

Oftentimes you can choose to pay additional points to lower the rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. To decide if purchasing points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

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