Do you wish to finance a home in St Augustine? Awesome Real Estate Inc. can help.

Many people think that applying for the mortgage loan is one of the most troublesome aspects of buying a house, but it doesn't have to be. Having connections with various lending companies in the St Augustine area has helped me understand a few things that can make the process of applying for a loan very manageable.

1 – Make a list of questions about your loan program

If you do not totally comprehend the advantages and disadvantages of the different loan programs, be sure you have a list of questions with you. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of both programs, because it's a challenge to know the characteristics of fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in the interest rate designates that your lender guarantees the interest rates for the loan – generally at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for the loan and issuance of closing documents. Buyers who opt 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 – Decide if you want to pay additional points to reduce your rate

When you elect to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the loan. To decide if purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

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

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