Looking to finance your home in Davenport? Frontline Florida Realty Inc can help.

When buying a home, applying for a mortgage loan is exasperating for many people, but it doesn't have to be. I'm pretty close to many lenders in Davenport, and they've helped me realize some things that will make the process of applying for a loan very easy.

1 – Organize a list of questions regarding your loan program

If you don't fully comprehend the advantages and disadvantages of the various programs, make sure you bring a list of questions with you. It is hard to know the differences between both fixed and adjustable rate mortgages. I or one of my trusted lenders will help you understand the advantages and disadvantages of each one.

2 – Determine when you want to lock

When you lock in a rate, it means that the lender commits to the interest rates for the loan – typically 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 the issuing of closing documents. Those who choose to float conclude 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 lower your rate

If you opt to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will assist you with deciding if purchasing points is right for you.

4 – Bring your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here for a list of normal loan documentation.

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