Applying for a Loan
Getting a Mortgage for Real Estate in Orlando & Central Florida
Getting your mortgage is just one aspect of getting into a new home. Our Orlando Real Estate Agents are experienced at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate professional ready for the business side of buying and selling in Orlando and Central Florida.
Sue King, Realtor® at Greater Orlando Realty USA, Inc. can assist you with applying for a new home loan in Florida. Applying for the loan is one of the most troublesome aspects of buying a home. But it doesn't have to be. We've got great connections to various mortgage lenders throughout Central Florida, and they've helped us learn a few things that will make the process of applying for a loan uncomplicated.
1 – Assemble a list of questions regarding your loan program
If you find that you do not perfectly comprehend the pros and cons of all the different financing options, be sure you have a list of questions. It's a challenge understanding the characteristics of both fixed and adjustable rate mortgages. One of our trusted lenders or us can assist you with understanding the advantages and disadvantages of each one.
2 – Decide when you want to lock
When you lock in the rate, it designates that your mortgage lender guarantees the mortgage interest rates for the loan – usually at the time the loan application is received. By floating the rate, you can lock the rate anytime between application and at the time of closing. Those who opt to float conclude the interest rates will drop in the near future.
3 – Determine if you want to pay additional points to decrease your rate
Usually you can decide to pay additional points to lower the rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. It will help you determine if buying points is the best option for you.
4 – Gather your paperwork
Obtaining a mortgage loan requires a lot of paperwork, so you should take some time to get your documentation together.