
	Getting your loan locked down is just one aspect of a real estate transaction. Judy Wolfman,CIPS Pat Hance Realty is seasoned at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.

Are you thinking of financing your home?

When purchasing a home, applying for the mortgage loan is demanding for many people, but it doesn't have to be. I have close business relationships with many mortgage lenders in Plantation, and they've helped me recognize a few things that make the process of applying for a loan very easy.

1 – Create a list of questions regarding your loan program

If you don't totally understand the ins and outs of the various loan programs, make sure to bring a list of questions with you. Oftentimes, it can be a challenge understanding the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts will assist you with understanding the advantages and disadvantages of each program.

2 – Decide when to lock

Locking in a rate designates that a mortgage lender holds to the 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 day you apply for your loan and the issuing of closing documents. Those who elect to float conclude the interest rates will plunge 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 elect to pay additional points to lower the rate of your mortgage loan, you will pay for them in cash at closing. Every point is 1 percent of the loan. If you're uncertain as to whether or not buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to get a feel for common information that goes on a loan application.

Judy Wolfman,CIPS Pat Hance Realty 6991 W Broward Blvd #100 Plantation, FL 33317-2215

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