
	Getting your loan locked down is just one aspect of a home purchase. Renny Bryden of Re/Max All Star is seasoned at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR^® ready for the business side of real estate.

Are you looking to finance a new home?

Securing mortgage financing can be one of the most exasperating parts of purchasing a home. But it doesn't have to be. I have excellent relationships with several mortgage lenders in Clearwater, and they've helped me realize some things that will make the loan application process effortless.

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

If you find that you don't totally realize the ins and outs of all the different financing options, be sure you have a list of questions with you. Oftentimes, it can be hard to understand the differences between both fixed and adjustable rate mortgages. I or one of my lenders can assist you in understanding the advantages and disadvantages of each one.

2 – Determine when you want to lock

By locking in a rate, your lender is guaranteeing the mortgage interest rates for the loan – normally at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Buyers who choose to float conclude interest rates will dip 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

Typically you can opt to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. To determine if buying points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to preview typical questions you'll have to answer on a loan app.