RE/MAX Town Centre can help you apply for a new home loan.
For a lot of people, applying for a loan is one of the most demanding aspects of purchasing a house, but it doesn't have to be.
Being connected with various mortgage lenders in Orlando has helped me recognize a few things that make the loan application process uncomplicated.
1 – Compile a list of questions regarding your loan program
Be sure you have a list of questions with you if you find that you don't thoroughly understand the ins and outs of the various programs.
It is hard to understand the differences between both fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of each program.
2 – Determine when you want to lock
When you lock in an interest rate, a lender is sure to keep to the interest rates for the loan – most often at the time the loan application is presented.
By floating the rate, you can lock the rate at any time between application and issuance of closing documents. Buyers who prefer to float presume interest rates will plunge 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
Oftentimes you can decide to pay additional points to lower the rate of your loan. Every point is 1 percent of the loan and is payable in cash at closing.
Click here to use our points calculator. It will help you decide if buying points is the best option for you.
4 – Compile your paperwork
Obtaining a loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here for a list of general loan documentation.