Do you wish to finance a home in Fort Worth? DFW Skyline Realty can help.

When buying a home, applying for the mortgage loan is exasperating for many people, but it doesn't have to be. I'm very close to a lot of lenders in the Fort Worth area, and they've helped me learn a few things that can make the process of applying for a loan effortless.

1 – Organize a list of questions about your loan program

Make sure you bring a list of questions if you find that you do not thoroughly comprehend the advantages and disadvantages of all the different loan programs. It is a challenge to know the distinctions between both fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of both programs.

2 – Determine when you want to lock

By locking in a rate, a lender is committing 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 the issuing of closing documents. Those who decide to float think interest rates will drop 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

Normally you can opt to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. This tool will help you decide if purchasing points is right for you.

4 – Bring your paperwork

Getting a mortgage loan requires lots 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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