Are you financing a new home in Davie? Unicasa International USA Realty can help.

Applying for a loan can be one of the most exasperating aspects of purchasing a house for a buyer, but it doesn't have to be. I'm pretty connected with some lenders in the Davie area, and they've helped me realize some things that will make the loan application process much easier.

1 – Create a list of questions about your loan program

If you do not perfectly understand the ins and outs of the different programs, be 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 lender contacts can assist you with understanding the advantages and disadvantages of each.

2 – Determine when you want to lock

When you lock in the interest rate, your lender is guaranteed to keep to the mortgage interest rates for the loan – often at the time the loan application is presented. By floating the rate, you can lock the rate at any time between application and closing. Buyers who choose to float conclude that the interest rates will drop 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 interest rate

When you choose to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. If you're unsure as to whether or not buying points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here for a list of common loan documentation.