Pearsall Properties Inc. can assist you in applying for your home loan.

Applying for the loan can be one of the most demanding parts of buying a house for a buyer, but it doesn't have to be. I'm pretty connected with many lenders in Cape Coral, and they've helped me learn some things that make the loan application process much easier.

1 – Assemble a list of questions regarding your loan program

If you find that you do not perfectly understand the advantages and disadvantages of the different loan programs, be sure you have a list of questions with you. It can be a challenge to understand the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts can assist you in understanding the advantages and disadvantages of each.

2 – Determine when to lock

Locking in a rate indicates that a lender commits to the mortgage interest rates for the loan – most often 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 at the time of closing. Buyers who choose to float think the interest rates will fall in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to reduce your rate

Usually you can elect to pay additional points to lower the rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will assist you with determining if purchasing points is right for you.

4 – Bring your paperwork

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

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