
	Securing financing is just one aspect of getting into a new home. Bobby Rowe with John Doran Realty is seasoned at aiding new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of buying and selling.

Looking to finance your home?

For a lot of people, applying for the loan is one of the most demanding parts of buying a home. But it doesn't have to be. I've got great connections to various lenders in the Clearwater area, and they've helped me realize a few things that can make the loan application process pretty simple.

1 – Organize a list of questions regarding your loan program

If you don't thoroughly comprehend the advantages and disadvantages of all the various programs, make sure you have a list of questions. Oftentimes, it can be hard to know the differences between fixed and adjustable rate mortgages. I or one of my lender contacts can assist you in understanding the advantages and disadvantages of each program.

2 – Determine when you want to lock

When you lock in a rate, your mortgage lender is guaranteed to commit to the mortgage interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day of your loan application and closing. Buyers who prefer to float conclude 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 decrease your rate

Usually you can choose to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. To decide if purchasing points is right for you, click here to use our points calculator.

4 – Bring your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to see typical questions you'll have to answer on a loan app.

* MOL = More or Less