Thinking about financing your new home in Delray Beach?

For many people, applying for a loan is one of the most demanding parts of purchasing a home, but it doesn't have to be. I have a close relationship with several mortgage lenders in the Delray Beach area, and they've helped me recognize a few things that make the process of applying for a loan a snap.

1 – Assemble a list of questions about your loan program

Be sure you have a list of questions with you if you find that you do not totally comprehend the ins and outs of the various programs. At times, it can be hard to know the differences between fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of each.

2 – Determine when to lock

When you lock in a rate, it signifies that the lender holds to the mortgage interest rates for the loan – most often at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Buyers who choose to float presume 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

When you choose to pay additional points to lower the rate of your loan, you'll pay for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. Click here to use our points calculator. It will help you decide if purchasing points is the best option for you.

4 – Gather your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to get a list of general loan documentation.