Applying for your new home loan with help from J. Briann Realty Group, Inc.

Applying for the loan can be one of the most demanding parts of purchasing a house for a buyer, but it doesn't have to be. I have a close business relationship with various mortgage lenders in West Palm Beach, and they've helped me learn a few things that make the loan application process uncomplicated.

1 – Create a list of questions regarding your loan program

Make sure you have a list of questions with you if you do not thoroughly realize the pros and cons of all the various loan programs. It's hard to understand the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts can help you understand the advantages and disadvantages of each one.

2 – Determine when you want to lock

When you lock in an interest rate, it denotes that a lender keeps to the mortgage interest rates for the loan – usually at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the loan application day and closing. Those who elect to float conclude 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 rate

If you decide to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the loan. To determine if buying points is right for you, click here to use our points calculator.

4 – Gather your paperwork

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