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

Applying for financing is one of the most stressful elements of purchasing a home for a buyer, but it doesn't have to be. I'm very close to a lot of mortgage lenders in the Punta Gorda area, and they've helped me recognize a few things that make the process of applying for a loan very easy.

1 – Put together a list of questions regarding your loan program

Make sure you have a list of questions if you do not entirely comprehend the advantages and disadvantages of all the different programs. It is often hard to know the characteristics of both fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of each program.

2 – Decide when you want to lock

By locking in the rate, the mortgage lender is holding to the interest rates for the loan – ordinarily at the time the loan application is received. By floating the rate, you can lock the rate at any time between the loan application day and the issuing of closing documents. Those who opt to float presume 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 decrease your interest rate

Oftentimes you can opt to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. To determine if you should purchase points, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a loan requires lots of paperwork, so you should take some time to get your documents together. Click here to get a list of common loan documentation.