
	Securing financing is just one aspect of a real estate transaction. Coldwell Banker Real Estate is seasoned at assisting new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR^® ready for the business side of buying and selling.

Coldwell Banker Real Estate can assist you with applying for a new home loan in Miami Beach.

When buying a home, applying for a mortgage loan is distressing for most people, but it doesn't have to be. Having connections with various lending companies in Miami Beach has helped me recognize a few things that will make the process of applying for a loan easy.

1 – Compile a list of questions about your loan program

If you find that you do not thoroughly comprehend the ins and outs of the different financing options, make sure to bring a list of questions. I or one of my lenders can assist you in understanding the advantages and disadvantages of each one, because it can be a challenge to know the characteristics of fixed and adjustable rate mortgages.

2 – Decide when to lock

By locking in the interest rate, a lender is holding to the interest rates for the loan – often at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Buyers who prefer to float think that the 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 interest rate

When you choose to pay additional points to lower the rate of your loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the loan. If you're undecided on whether or not purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to preview normal questions you'll have to answer on a loan app.