Getting your mortgage is just one aspect of getting into a new home. Commercial, Homes & Land, Inc. is seasoned at assisting new and experienced buyers in all areas of real estate. Call us today at (407) 366-1333 if your needs include a real estate pro ready for the business side of real estate. Check here to get started finding the best loan for you: The Lenders Network


Let Commercial, Homes & Land, Inc. assist you in financing your home in Oviedo.

For many people, securing a loan is one of the most stressful aspects of buying a house. But it doesn't have to be. I have close professional relationships with many mortgage lenders in the Oviedo area, and they've helped me understand a few things that will make the process of applying for a loan a snap.

1 – Compose a list of questions regarding your loan program

Be sure you have a list of questions if you don't fully comprehend the pros and cons of the different loan programs. At times, it can be a challenge to understand the differences between both fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of each one.

2 – Decide when you want to lock

By locking in an interest rate, the mortgage lender is holding to the mortgage interest rates for the loan – ordinarily at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day of your loan application and the issuing of closing documents. Buyers who prefer to float conclude the interest rates will decline 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 lower your interest rate

If you opt to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. If you're not sure if buying points is the best option for you, click here to use our points calculator.

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 get a feel for normal information that goes on a loan application.

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