Securing financing is just one part of a home purchase. Delphi Investment Realty is experienced at aiding 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.
Delphi Investment Realty can assist you with applying for a loan in Miami.
Securing a loan is one of the most troublesome elements of buying a house. But it doesn't have to be.
I have close working relationships with several lenders in the Miami area, and they've helped me realize a few things that make the process of applying for a loan much easier.
1 – Put together a list of questions about your loan program
Be sure you bring a list of questions if you find that you do not perfectly understand the ins and outs of the different programs.
Oftentimes, it can be a challenge to know the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts can assist you with understanding the advantages and disadvantages of both programs.
2 – Decide when you want to lock
Locking in the interest rate means that a lender commits to the mortgage interest rates for the loan – ordinarily 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 at the time of closing. Buyers who prefer to float believe that interest rates will plunge 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
When you elect to pay additional points to lower the rate of your loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the mortgage loan.
If you're not sure if purchasing points is right for you, click here to use our points calculator.
4 – Bring your paperwork
Obtaining a mortgage loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to see general questions you'll have to answer on a loan app.
Delphi Investment Realty 6303 Blue Lagoon Drive Suite 400 Miami, FL 33126
