Are you thinking about financing your new home? DFW Skyline Realty can help.

When purchasing a home, applying for a loan is a very troublesome event for most people, but it doesn't have to be. I'm pretty connected with a lot of lending companies in the Fort Worth area, and they've helped me learn a few things that will make the loan application process pretty simple.

1 – Create a list of questions regarding your loan program

Make sure to have a list of questions with you if you find that you do not completely comprehend the pros and cons of the various programs. I or one of my trusted lenders will help you understand the advantages and disadvantages of both programs, because it is hard to know the differences between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

By locking in the rate, a lender is holding to the interest rates for the loan – most often at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day of your loan application and at the time of closing. Those who choose to float believe 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 lower your interest rate

Usually you can opt to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. If you're unsure as to whether or not buying points is right for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here for a list of normal loan documentation.

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