Getting your mortgage is just one part of getting into a new home. All agents at Rahal Real Estate are experienced at helping both new and experienced buyers alike in all areas of real estate. Call us today at 321-631-0511 if your needs include a real estate pro experienced at the business side of buying and selling.

Are you going to finance a home in Rockledge, Cocoa, Merritt Island, Melbourne or Viera?

When buying a home, the loan application is very demanding for most people, but it doesn't have to be. Being close to a lot of lenders in central Brevard County has helped us learn a few things that will make the loan application process very manageable.

1 – Put together a list of questions regarding your loan program

If you find that you do not completely realize the advantages and disadvantages of all the various financing options, make sure you bring a list of questions. One of our lenders or us will assist you with understanding the advantages and disadvantages of both programs, because it is hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in a rate, it denotes that your lender holds to the mortgage interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Buyers who elect to float conclude that interest rates will plunge 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

When you decide 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 mortgage loan. To determine if buying points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to see normal information that goes on a loan application.

How much home can you afford?

You have rented for years and now wish to make the American dream of owning your own home a reality. But how do you know what your home search budget should be? Let us help you find a lender to get you pre-qualified today.

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