
	Securing financing is just one part of a home purchase. Florida Realty of Miami is experienced at assisting new and experienced 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 financing your new home? Florida Realty of Miami can help.

When buying a home, applying for the loan is very troublesome for most people, but it doesn't have to be. I've got great connections to various lending companies in the Miami area, and they've helped me understand a few things that make the loan application process pretty simple.

1 – Make a list of questions about your loan program

If you do not perfectly comprehend the pros and cons of the different loan programs, make sure you have a list of questions. I or one of my lenders can help you understand the advantages and disadvantages of each one, because it is a challenge to know the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in the interest rate, it designates that your mortgage lender holds to the mortgage interest rates for the loan – often at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day you apply for your loan and closing. Buyers who decide to float conclude that 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 reduce your interest rate

Typically you can opt to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at closing. If you're undecided on whether or not buying points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to see normal questions you'll have to answer on a loan app.