Do you wish to finance your new home? Coast to Coast Property Brokers can help.

Applying for mortgage financing can be one of the most distressing elements of buying a house, but it doesn't have to be. I'm close with some mortgage lenders in the Fort Walton Beach area, and they've helped me recognize a few things that make the process of applying for a loan a snap.

1 – Compose a list of questions regarding your loan program

Be sure to have a list of questions if you find that you do not perfectly comprehend the ins and outs of the different loan programs. I or one of my trusted lenders will help you understand the advantages and disadvantages of each one, because it can be a challenge to understand the distinctions between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the rate, it means that the mortgage lender holds to the interest rates for the loan – normally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between application and issuance of closing documents. Those who decide to float conclude 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 lower your interest rate

When you elect to pay additional points to lower the rate of your loan, you will pay for them in cash at closing. Each point is 1 percent of the mortgage loan. To determine if purchasing points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

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

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

Your Information
Some Details