
	Securing financing is just one part of a real estate transaction. Brian Tucker Living, Inc. is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Call us today at 850.261.9128 if your needs include a real estate pro ready for the business side of buying and selling.

Are you financing your new home in Pensacola Beach? Brian Tucker Living, Inc. can help.

When purchasing a home, applying for a mortgage loan is demanding for many people, but it doesn't have to be. I have close working relationships with several lending companies in Pensacola Beach, and they've helped me recognize some things that can make the process of applying for a loan uncomplicated.

1 – Create a list of questions about your loan program

Make sure you bring a list of questions with you if you find that you don't completely grasp the pros and cons of the different programs. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of each one, because it is a challenge to know the differences between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

Locking in a rate means that your lender commits to the interest rates for the loan – normally 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 choose to float presume 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 lower your rate

If you choose to pay additional points to lower the interest rate of your mortgage loan, you will pay for them in cash at closing. Each point is 1 percent of the mortgage loan. To determine if you should buy points, click here to use our points calculator.

4 – Bring 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 common information that goes on a loan application.

Mortgage Calculator:

Sales Price:		$
Down:		%
Interest Rate:		%
Term:		yrs

Monthly payment:		$

Today's Rates:

Mtg Loan

Rate

APR

30-yr Fixed	3.87%	4%
15-yr Fixed	3.14%	3.31%
1-yr Adj	2.76%	3.42%

* national averages