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

When buying a home, applying for the loan is stressful for most people, but it doesn't have to be. I'm pretty familiar with various mortgage lenders in the West Palm Beach area, and they've helped me understand a few things that can make the loan application process very manageable.

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

Make sure to bring a list of questions if you find that you do not entirely understand the pros and cons of the different programs. Oftentimes, it can be a challenge understanding the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each one.

2 – Determine when to lock

Locking in the interest rate designates that a mortgage lender holds to the mortgage interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and the issuing of closing documents. Buyers who elect to float believe that 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 decrease your rate

Oftentimes you can choose to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the loan and is payable in cash at closing. To decide if buying points is right for you, click here to use our points calculator.

4 – Bring your paperwork

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