Are you financing a new home? Silver International Realty, Inc. can help.

Most buyers think applying for a loan is one of the most demanding parts of buying a house, but it doesn't have to be. I'm well-connected with many lending companies in Delray Beach, and they've helped me recognize a few things that make the process of applying for a loan pretty simple.

1 – Make a list of questions about your loan program

Make sure you have a list of questions with you if you find that you don't fully understand the ins and outs of all the different programs. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of each one, because it's a challenge to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the rate, it signifies that the lender holds to the interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for the loan and issuance of closing documents. Those 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 – Decide if you want to pay additional points to lower your interest rate

Normally you can choose to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. If you're uncertain as to whether or not purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here for a list of typical loan documentation.