DFW Skyline Realty can help you finance a home.

For most people, applying for the loan is one of the most stressful elements of purchasing a home, but it doesn't have to be. Being connected with many mortgage lenders in the Fort Worth area has helped me realize some things that will make the process of applying for a loan a snap.

1 – Compile a list of questions regarding your loan program

Be sure to bring a list of questions with you if you do not completely realize the advantages and disadvantages of all the different programs. I or one of my lenders can assist you with understanding the advantages and disadvantages of each one, because it can be a challenge to know the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in an interest rate, the mortgage lender is sure to keep to the interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Buyers who decide to float conclude the interest rates will fall 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 rate

When you decide to pay additional points to lower the interest rate of your loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. If you're unsure if purchasing points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a loan requires a lot of paperwork, so you should take some time to get all your documents together. Click here for a list of general loan documentation.

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