
	Securing financing is just one part of a home purchase. Real Estate Brevard, LLC is experienced at assisting new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR^® ready for the business side of buying and selling.

Let Real Estate Brevard, LLC assist you in applying for a new home loan in Merritt Island.

For many people, applying for a mortgage loan can be one of the most exasperating aspects of purchasing a house. But it doesn't have to be. Being close with some lenders in Merritt Island has helped me realize some things that make the loan application process very manageable.

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

Make sure you have a list of questions if you find that you do not fully grasp the advantages and disadvantages of the different programs. I or one of my lender contacts can assist you with understanding the advantages and disadvantages of both programs, because it's a challenge to know the characteristics of both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in the rate, it designates that the lender commits to the mortgage interest rates for the loan – typically 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 closing. Buyers who choose to float believe that the interest rates will drop 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 decrease your interest rate

When you elect to pay additional points to lower the interest rate of your loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will help you decide if buying points is right for you.

4 – Compile your paperwork

Getting a loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to preview general information that goes on a loan application.