Let Frontline Florida Realty Inc assist you in applying for your home loan.

For many people, applying for financing can be one of the most exasperating aspects of buying a home, but it doesn't have to be. Being connected with several mortgage lenders in the Davenport area has helped me learn some things that will make the process of applying for a loan pretty simple.

1 – Compose a list of questions regarding your loan program

Make sure you have a list of questions with you if you don't perfectly realize the pros and cons of the various programs. Oftentimes, it can be a challenge to know the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts can help you understand the advantages and disadvantages of each.

2 – Determine when to lock

When you lock in a rate, the lender is sure to hold to the interest rates for the loan – normally at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Buyers who elect 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 reduce your interest rate

If you decide 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 loan. To decide if purchasing points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Obtaining a loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to get a list of normal loan documentation.

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