Securing financing is just one aspect of a real estate transaction. Mary Anne Windes, broker/owner is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call me today at (850) 837-2211 if your needs include a professional REALTOR® experienced at the business side of buying and selling.

Thinking of financing a new home? Mary Anne Windes, broker/owner can help.

When buying a home, the mortgage loan application is stressful for a lot of people, but it doesn't have to be. Having connections to a lot of lenders in Destin has helped me understand some things that can make the process of applying for a loan very easy.

1 – Assemble a list of questions regarding your loan program

If you find that you do not completely understand the ins and outs of the different programs, be sure you have a list of questions with you. One of my trusted lenders or I will be able to assist you with understanding the advantages and disadvantages of both programs, because it's hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when to lock

Locking in the interest rate indicates that the mortgage lender guarantees the mortgage interest rates for the loan – commonly 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 opt to float think that 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 decrease your rate

Normally you can elect to pay additional points to lower the interest rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. If you're undecided as to whether or not purchasing points is the best option for you, click here to use my points calculator.

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to preview general questions you'll have to answer on a loan app.