Do you wish to finance 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 elements of purchasing a home for a buyer, but it doesn't have to be. Being close to some lending companies in the West Palm Beach area has helped me understand a few things that make the process of applying for a loan effortless.

1 – Make a list of questions regarding your loan program

Make sure to have a list of questions with you if you find that you do not totally understand the ins and outs of the various programs. I or one of my lender contacts can assist you in understanding the advantages and disadvantages of both programs, because it can be hard to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in the rate, your lender is guaranteed to hold to the interest rates for the loan – typically at the time the loan application is sent in. 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 decide to float think 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 – Determine if you want to pay additional points to reduce your interest rate

If you choose 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 loan. If you're not sure if purchasing points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should take some time to get all your documentation together. Click here for a list of typical loan documentation.

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