Let DFW Skyline Realty help you finance your home in Fort Worth.

When buying a home, applying for financing is a exasperating event for most people, but it doesn't have to be. I have a close relationship with a lot of lending companies in Fort Worth, and they've helped me realize some things that make the loan application process easy.

1 – Organize a list of questions about your loan program

Be sure you bring a list of questions if you find that you do not completely comprehend the pros and cons of all the various loan programs. I or one of my lender contacts will be able to assist you in understanding the advantages and disadvantages of each program, because it can be a challenge to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in a rate, the mortgage lender is sure to hold to the mortgage interest rates for the loan – most often 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 issuance of closing documents. Buyers who decide to float believe that 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 reduce your rate

Typically 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 the time of closing. If you're unsure as to whether or not buying points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

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

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