
	Getting your loan locked down is just one part of a home purchase. SummerGlen Realty, LLC. is experienced at aiding new and experienced in all areas of real estate. Call us today at (352)245-0184 if your needs include a professional REALTOR^® experienced at the business side of buying and selling.

Are you looking to finance your home in Ocala?

Stressed out about getting financing for a home purchase? You don't have to be. Being connected to some mortgage lenders in Ocala has helped me learn some things that will make the loan application process a snap.

1 – Organize a list of questions regarding your loan program

Make sure you bring a list of questions with you if you find that you don't completely grasp the ins and outs of the different loan programs. It is a challenge to know the differences between fixed and adjustable rate mortgages. I or one of my lenders can assist you in understanding the advantages and disadvantages of each program.

2 – Determine when to lock

When you lock in an interest rate, your lender is sure to keep to the mortgage interest rates for the loan – typically at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the loan application day and closing. Those who opt to float believe interest rates will drop 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 reduce your interest rate

Oftentimes you can elect to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will assist you with determining if purchasing points is the best option for you.

4 – Compile your paperwork

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