Let Delphi Investment Realty help you with financing a home.

When buying a home, applying for the loan is stressful for a lot of people, but it doesn't have to be. I have a close relationship with various mortgage lenders in the Miami area, and they've helped me understand a few things that can make the process of applying for a loan much easier.

1 – Create a list of questions about your loan program

Be sure you bring a list of questions if you find that you don't fully understand the advantages and disadvantages of the various programs. At times, it can be a challenge to understand the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you in understanding the advantages and disadvantages of each program.

2 – Determine when to lock

When you lock in the rate, it designates that a lender holds to the interest rates for the loan – most often at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for the loan and issuance of closing documents. Those who opt to float conclude that interest rates will dip 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 interest rate

When you decide to pay additional points to lower the 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. If you're unsure if buying points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to get a list of common loan documentation.