Are you looking to finance a new home?

For a lot of people, applying for a loan can be one of the most stressful parts of buying a home, but it doesn't have to be. I'm pretty connected to various mortgage lenders in Fort Walton Beach, and they've helped me realize a few things that can make the process of applying for a loan very manageable.

1 – Create a list of questions about your loan program

If you don't completely understand the pros and cons of the various programs, make sure to bring a list of questions. I or one of my lenders will be able to help you understand the advantages and disadvantages of both programs, because it's hard to understand the differences between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

By locking in the interest rate, a lender is committing to the interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Buyers who opt to float think interest rates will fall 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

When you decide to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at the time of closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will help you determine if buying points is the best option for you.

4 – Bring your paperwork

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

Looking to Buy?

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