
	Securing financing is just one part of a home purchase. Personal Service Realty is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 904.866.9117 if your needs include a real estate pro ready for the business side of real estate.

Are you thinking of financing your home in Jacksonville? Personal Service Realty can help.

When purchasing a home, applying for the loan is very distressing for a lot of people, but it doesn't have to be. I have close working relationships with various lending companies in the Jacksonville area, and they've helped me realize a few things that make the process of applying for a loan easy.

1 – Organize a list of questions regarding your loan program

If you find that you don't thoroughly comprehend the pros and cons of all the different financing options, be sure you bring a list of questions with you. I or one of my lenders can help you understand the advantages and disadvantages of both programs, because it can be a challenge to know the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in the interest rate, it indicates that a lender keeps to the mortgage interest rates for the loan – normally 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 issuance of closing documents. Those who choose to float believe interest rates will dip 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

If you opt to pay additional points to lower the interest rate of your mortgage loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. To decide if you should buy points, 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 documentation together. Click here to see common questions you'll have to answer on a loan app.