Let Coast to Coast Property Brokers help you finance a new home in Fort Walton Beach.

When buying a home, applying for financing is very stressful for most people, but it doesn't have to be. I'm pretty close with various mortgage lenders in the Fort Walton Beach area, and they've helped me understand a few things that will make the loan application process pretty simple.

1 – Compile a list of questions regarding your loan program

Make sure to have a list of questions if you don't fully understand the advantages and disadvantages of all the different programs. It can be a challenge understanding the distinctions between fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you in understanding the advantages and disadvantages of each program.

2 – Decide when to lock

By locking in the rate, your mortgage lender is guaranteeing the interest rates for the loan – ordinarily at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day of your loan application and the issuing of closing documents. Those who choose to float believe 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 – Determine if you want to pay additional points to reduce your rate

When you choose to pay additional points to lower the rate of your mortgage loan, you'll pay for them in cash at closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will assist you in deciding if buying points is right for you.

4 – Compile your paperwork

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

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