Do you wish to finance a home? J. Briann Realty Group, Inc. can help.

Applying for the loan can be one of the most exasperating elements of buying a house, but it doesn't have to be. I'm pretty familiar with various lending companies in West Palm Beach, and they've helped me learn a few things that make the process of applying for a loan a snap.

1 – Put together a list of questions about your loan program

Be sure you have a list of questions with you if you find that you do not thoroughly realize the advantages and disadvantages of the various programs. Oftentimes, it can be hard to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of both programs.

2 – Determine when you want to lock

Locking in an interest rate denotes that a lender holds to the interest rates for the loan – commonly at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day you apply for your loan and the issuing of closing documents. Those who choose to float believe that the interest rates will dip 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

If you choose to pay additional points to lower the interest rate of your loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. To determine if you should buy points, click here to use our points calculator.

4 – Gather your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here to get a list of common loan documentation.

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