Silver International Realty, Inc. can help you with financing your new home.

When buying a home, applying for a loan is very troublesome for a lot of people, but it doesn't have to be. Being close with a lot of mortgage lenders in Delray Beach has helped me realize some things that will make the loan application process very manageable.

1 – Create a list of questions regarding your loan program

If you find that you don't entirely comprehend the advantages and disadvantages of all the various loan programs, be sure to bring a list of questions. I or one of my lender contacts will help you understand the advantages and disadvantages of each one, because it's a challenge to know the differences between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the rate, the lender is guaranteed to keep to the interest rates for the loan – normally at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day you apply for the loan and the issuing of closing documents. Buyers who opt to float conclude the interest rates will decline 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

Generally you can opt to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will help you determine if buying points is right for you.

4 – Bring your paperwork

Getting a loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to get a list of typical loan documentation.