Getting your mortgage is just one aspect of a real estate transaction. Greater Florida Realty inc. is experienced 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.
When purchasing a home, the mortgage loan application is very demanding for most people, but it doesn't have to be.
Being close with many lenders in Davie has helped us understand a few things that can make the loan application process easy.
Be sure to have a list of questions with you if you do not completely understand the ins and outs of the various programs.
One of our lender contacts or members of our team can assist you in understanding the advantages and disadvantages of each program, because it is hard to understand the characteristics of both fixed and adjustable rate mortgages.
Locking in an interest rate indicates that the mortgage lender guarantees the mortgage interest rates for the loan – usually at the time the loan application is submitted.
By floating the rate, you can lock the rate anytime between the day you apply for your loan and issuance of closing documents. Buyers who prefer to float think that the interest rates will decline in the near future. Click here to see the outlook for the next 90 days of interest rates.
If you elect to pay additional points to lower the interest rate of your loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the loan.
Click here to use our points calculator. It will help you decide if purchasing points is the best option for you.
Obtaining a loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to see typical information that goes on a loan application.
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