For many buyers, applying for a mortgage loan is one of the more stressful aspects of buying a home. But by following a few easy steps you’ll sail through the loan application process.

Make a list of any questions you have about loan programs.

Understand the advantages and disadvantages of mortgage programs you may qualify for.   Click here for information about the more common types of home financing.

Applying for a LoanFind out the best time to lock-in the interest rate on your loan.  “Locking in” the rate means that the lender commits to the mortgage interest rate for the loan typically at the time the loan application is submitted, for a fixed period of time. By “floating” the rate, you can lock-in the interest rate anytime between the loan application day and the day of closing. Buyers opt to “float the loan” when they believe interest rates will drop after their loan application date and prior to closing. The risk is that rather than dropping, interest rates may rise, increasing the mortgage payment.


Decide if you want to pay additional points to lower your interest rate.

Typically you can elect to pay additional points (each point is 1 percent of the mortgage loan) directly to the lender in cash at closing in exchange for a reduced interest rate on your mortgage loan.   Click here for information about this and other ways to save on financing for your home.


Gather your paperwork.

Click here   to view a list of typical loan documentation.


Our Top Local Lender

Applying for a Loan

Mike Tullio

Phone: 941-955-7115
Fax: 941-866-3575
Cell: 941-228-1020
Address: 1444 1st St, Suite A
Sarasota, FL 34236


Contact Us today so we can help you find your perfect home or call the Wilson HomeTeam at (941) 321-8686 now for immediate answers to your questions