Getting your loan locked down is just one part of a home purchase. RE/MAX ACR Elite Realty is experienced at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® ready for the business side of buying and selling.

Let RE/MAX ACR Elite Realty help you with financing your new home in Tampa.

For many people, applying for the loan can be one of the most stressful aspects of purchasing a home. But it doesn't have to be. I've got great connections to various lenders in the Tampa area, and they've helped me recognize a few things that can make the loan application process uncomplicated.

1 – Compose a list of questions about your loan program

If you find that you don't entirely realize the pros and cons of all the different programs, be sure to have a list of questions with you. At times, 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 each.

2 – Decide when to lock

When you lock in a rate, it indicates that your mortgage lender commits to the mortgage interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for your loan and closing. Those who opt to float believe that the interest rates will decline 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 rate

If you decide to pay additional points to lower the interest rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. Click here to use our points calculator. This tool will help you decide if buying points is the best option for you.

4 – Compile your paperwork

Getting a loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to preview normal questions you'll have to answer on a loan app.