Getting your loan locked down is just one aspect of getting into a new home. Priority Business Brokers, LLC is experienced at helping new and experienced in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.


Applying for your new home loan in Naples

For many people, applying for the loan can be one of the more exasperating aspects of buying a house. But it doesn't have to be. I have excellent relationships with a lot of lenders in the Naples area, and they've helped me recognize some things that can make the loan application process much easier.

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

Make sure you bring a list of questions if you find that you do not thoroughly grasp the ins and outs of the different loan programs. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of each program, because it is a challenge to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

By locking in an interest rate, a mortgage lender is guaranteeing the mortgage interest rates for the loan – normally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between application and at the time of closing. Those who choose 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 decrease your rate

If you elect to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at the time of closing. Each point is 1 percent of the loan. Click here to use our points calculator. This tool will help you decide if buying points is the best option for you.

4 – Bring your paperwork

Getting a mortgage loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to preview typical questions you'll have to answer on a loan app.

            

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