Are you financing your home in West Palm Beach? J. Briann Realty Group, Inc. can help.

Applying for a mortgage loan can be one of the most stressful parts of purchasing a house for a buyer, but it doesn't have to be. Being connected with many lending companies in the West Palm Beach area has helped me understand a few things that make the loan application process very easy.

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

If you find that you don't totally realize the pros and cons of all the different programs, be sure you have a list of questions with you. It can be a challenge understanding the characteristics of fixed and adjustable rate mortgages. I or one of my lenders can assist you with understanding the advantages and disadvantages of both.

2 – Determine when to lock

When you lock in a rate, the mortgage lender is sure to keep to the mortgage interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and closing. Buyers who opt to float think that the interest rates will plunge 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 reduce your rate

If you decide to pay additional points to lower the interest rate of your loan, you will pay for them in cash at closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. It will assist you with deciding if buying points is the best option for you.

4 – Compile your paperwork

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

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