Securing financing is just one part of a home purchase. Royal Highlander Real Estate Consultants, LLC is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Call us today at (904) 823-8909 if your needs include a professional REALTOR® experienced at the business side of buying and selling.

Thinking of financing your home in St Petersburg? Royal Highlander Real Estate Consultants, LLC can help.

When buying a home, the mortgage loan application is very exasperating for a lot of people, but it doesn't have to be. Being close to various mortgage lenders in St Petersburg has helped us learn a lot of the things that can make the process of applying for a loan uncomplicated.

1 – Compile a list of questions about your loan program

Make sure to have a list of questions with you if you don't thoroughly understand the ins and outs of all the various loan programs. One of our lender contacts or staff can assist you in understanding the advantages and disadvantages of each program, because it can be hard to understand the distinctions between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in the interest rate, a mortgage lender is committing to the 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 anytime between the day you apply for your loan and at the time of closing. Those who elect to float presume that 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 rate

When you choose to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at closing. Every point is 1 percent of the mortgage loan. To determine if you should purchase points, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to get a feel for typical information that goes on a loan application.

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