Let Coast to Coast Property Brokers assist you in applying for a home loan in Fort Walton Beach.

For a lot of people, applying for financing is one of the more troublesome aspects of buying a house, but it doesn't have to be. I'm pretty connected to several lenders in Fort Walton Beach, and they've helped me learn a few things that can make the loan application process very manageable.

1 – Assemble a list of questions about your loan program

If you find that you don't totally realize the advantages and disadvantages of all the various programs, be sure to have a list of questions. It can be hard to know the characteristics of both fixed and adjustable rate mortgages. I or one of my lenders can help you understand the advantages and disadvantages of each program.

2 – Determine when to lock

Locking in the interest rate means that a mortgage lender guarantees the interest rates for the loan – usually at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day of your loan application and closing. Buyers who elect to float presume the interest rates will decline 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 decrease your interest rate

Typically you can elect to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. To decide if buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

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

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