Blue to Green Realty can help you finance your new home.

Many buyers believe that applying for the mortgage loan is one of the most troublesome elements of buying a home, but it doesn't have to be. Being close to various mortgage lenders in the West Palm Beach area has helped me understand some things that will make the process of applying for a loan a snap.

1 – Compile a list of questions regarding your loan program

If you don't completely understand the advantages and disadvantages of the various loan programs, be sure you have a list of questions. I or one of my trusted lenders will be able to assist you in understanding the advantages and disadvantages of each one, because it is hard to understand the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

By locking in a rate, your mortgage lender is keeping to the interest rates for the loan – commonly at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the loan application day and the issuing of closing documents. Buyers who opt to float presume 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 interest rate

Oftentimes you can choose to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will help you decide if purchasing points is right for you.

4 – Bring your paperwork

Getting a loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here for a list of common loan documentation.