Are you thinking about financing your home in Davie?

For most people, applying for the loan is one of the most stressful parts of buying a home, but it doesn't have to be. I'm pretty well-connected to a lot of mortgage lenders in the Davie area, and they've helped me understand a few things that will make the loan application process very easy.

1 – Make a list of questions about your loan program

Be sure to bring a list of questions if you don't entirely realize the ins and outs of the different loan programs. It can be hard to understand the differences between fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of each one.

2 – Determine when you want to lock

When you lock in the interest rate, your mortgage lender is guaranteed to keep to the mortgage interest rates for the loan – most often at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Buyers who choose to float believe interest rates will drop 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 rate

Normally you can decide to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will help you decide if purchasing points is right for you.

4 – Compile your paperwork

Acquiring a loan requires a lot of paperwork, so you should take some time to get your documents together. Click here for a list of common loan documentation.

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