
	Securing financing is just one aspect of a real estate transaction. Morton Realty is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.

Applying for your home loan in Sarasota

Securing mortgage financing is one of the more stressful parts of buying a house. But it doesn't have to be. I have close relationships with several mortgage lenders in the Sarasota area, and they've helped me recognize some things that will make the process of applying for a loan pretty simple.

1 – Assemble a list of questions regarding your loan program

If you do not fully comprehend the ins and outs of the different programs, make sure to bring a list of questions with you. It can be a challenge to understand the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of each.

2 – Determine when you want to lock

When you lock in the rate, it means that the lender guarantees the interest rates for the loan – ordinarily at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Those who opt to float presume the interest rates will plunge 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 lower your interest rate

When you elect to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the loan. If you're undecided on whether or not purchasing points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to preview general information that goes on a loan application.