Let J. Briann Realty Group, Inc. help you with financing a home.

For a lot of people, applying for mortgage financing can be one of the more exasperating parts of buying a house, but it doesn't have to be. I'm connected with various mortgage lenders in the West Palm Beach area, and they've helped me understand some things that can make the loan application process very manageable.

1 – Assemble a list of questions regarding your loan program

If you do not entirely realize the ins and outs of the various loan programs, be sure to have a list of questions. At times, it can be hard to know the distinctions between both fixed and adjustable rate mortgages. I or one of my lenders can help you understand the advantages and disadvantages of both programs.

2 – Determine when you want to lock

By locking in the rate, your lender is committing to the interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Those who elect to float believe the 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 opt to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. To determine if purchasing points is right for you, 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 your documents together. Click here to get a list of common loan documentation.

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