Let Unicasa International USA Realty help you apply for your home loan.

Applying for a loan can be one of the most stressful elements of purchasing a home for a buyer, but it doesn't have to be. I have a close business relationship with many mortgage lenders in Davie, and they've helped me understand some things that make the process of applying for a loan very easy.

1 – Compile a list of questions about your loan program

If you don't fully understand the pros and cons of all the various programs, be sure to bring a list of questions. I or one of my trusted lenders will help you understand the advantages and disadvantages of both programs, because it is hard to understand the characteristics of fixed and adjustable rate mortgages.

2 – Decide when to lock

By locking in a rate, the lender is holding to the mortgage interest rates for the loan – commonly at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day of your loan application and the issuing of closing documents. Those who prefer to float conclude interest rates will fall 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 lower your interest rate

Usually you can opt to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. It will assist you with deciding if buying points is the best option for you.

4 – Gather your paperwork

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