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

Applying for the loan is one of the most demanding aspects of purchasing a house for a buyer, but it doesn't have to be. I have a close relationship with several 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 – Organize a list of questions regarding your loan program

Make sure you have a list of questions if you find that you do not perfectly realize the pros and cons of all the different loan programs. It is hard to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of both programs.

2 – Decide when to lock

Locking in an interest rate designates that your lender holds to the mortgage interest rates for the loan – normally 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 the loan and the issuing of closing documents. Those who choose to float believe interest rates will decline 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 reduce your interest rate

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

4 – Gather your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to get a list of normal loan documentation.

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