Looking to finance your new home? Unicasa International USA Realty can help.

For most people, applying for the mortgage loan can be one of the most stressful elements of buying a home, but it doesn't have to be. Being close with various lending companies in Davie has helped me realize some things that will make the process of applying for a loan effortless.

1 – Create a list of questions regarding your loan program

If you don't fully comprehend the pros and cons of all the different loan programs, make sure you bring a list of questions. It is a challenge to understand the distinctions between fixed and adjustable rate mortgages. I or one of my lenders will help you understand the advantages and disadvantages of each one.

2 – Determine when you want to lock

When you lock in the interest rate, it indicates that the mortgage lender guarantees the mortgage interest rates for the loan – most often at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for your loan and the issuing of closing documents. Those who prefer to float think 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 rate

Usually you can decide to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will assist you with determining if buying points is right for you.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to get a list of normal loan documentation.