Are you thinking of financing a new home? Pare Realty, Inc. can help.

When purchasing a home, applying for a loan is a very demanding event for a lot of people, but it doesn't have to be. Being connected with many mortgage lenders in Fort Pierce has helped me learn some things that will make the loan application process a snap.

1 – Make a list of questions regarding your loan program

If you don't totally comprehend the advantages and disadvantages of all the different loan programs, be sure you have a list of questions with you. It's a challenge to understand the characteristics of 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 program.

2 – Decide when you want to lock

Locking in the interest rate means that the lender keeps to the mortgage interest rates for the loan – often at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for your loan and issuance of closing documents. Those who choose to float conclude 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 rate

If you decide to pay additional points to lower the rate of your mortgage loan, you will pay for them in cash at the time of closing. Each point is 1 percent of the loan. Click here to use our points calculator. This tool will assist you in determining if purchasing points is the best option for you.

4 – Compile your paperwork

Getting a loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to get a list of normal loan documentation.