Getting your loan locked down is just one aspect of a home purchase. BROMBY Real Estate Team is seasoned at assisting new and experienced in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of real estate.


Are you thinking about financing a new home in Sarasota?

Applying for a loan can be one of the most troublesome parts of buying a house. But it doesn't have to be. I have excellent relationships with several mortgage lenders in Sarasota, and they've helped me realize a few things that will make the loan application process very manageable.

1 – Organize a list of questions about your loan program

If you don't completely understand the pros and cons of the various financing options, make sure to have a list of questions with you. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of both programs, because it can be hard to know the differences between fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in an interest rate, it signifies that the lender guarantees the interest rates for the loan – generally at the time the loan application is received. By floating the rate, you can lock the rate anytime between the loan application day and closing. Buyers who elect to float think that the interest rates will fall 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 decrease your rate

When you decide to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. It will assist you in determining if buying points is right for you.

4 – Gather your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here to get a feel for general information that goes on a loan application.

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