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Do you want to finance a home in Punta Gorda?

Applying for financing can be one of the most troublesome elements of buying a house, but it doesn't have to be. I'm well-connected to several lending companies in the Punta Gorda area, and they've helped me realize some things that make the loan application process pretty simple.

1 – Compile a list of questions about your loan program

Make sure you have a list of questions if you don't thoroughly understand the ins and outs of the various programs. At times, it can be a challenge understanding the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you in understanding the advantages and disadvantages of both programs.

2 – Decide when you want to lock

By locking in a rate, your lender is guaranteeing the interest rates for the loan – often at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Buyers who prefer to float presume that the interest rates will plunge 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

If you decide to pay additional points to lower the rate of your loan, you'll 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 assist you with deciding if purchasing points is the best option for you.

4 – Compile your paperwork

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