
	Getting your loan locked down is just one part of getting into a new home. RE/MAX Harbor Realty is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR^® experienced at the business side of buying and selling.

Are you going to finance your home? RE/MAX Harbor Realty can help.

Applying for the loan can be one of the more troublesome elements of buying a house. But it doesn't have to be. I have close working relationships with various lending companies in Punta Gorda, and they've helped me understand some things that will make the process of applying for a loan very manageable.

1 – Compose a list of questions regarding your loan program

Be sure you have a list of questions with you if you find that you don't perfectly understand the ins and outs of all the various loan programs. At times, it can be a challenge understanding the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each.

2 – Decide when to lock

Locking in an interest rate designates that your lender commits to the interest rates for the loan – generally at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Buyers who choose to float conclude that 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 reduce your interest rate

When you choose to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. To decide if you should buy points, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to preview common information that goes on a loan application.

* MOL = More or Less