Applying for a mortgage loan is very troublesome for most people, but it doesn't have to be. Being familiar with several lenders in Nassau/Suffolk County has helped me realize a few things that will make the loan application process a breeze.

1 – Put together a list of questions about your loan program If you do not completely realize the pros and cons of the various loan programs, make sure to have a list of questions with you. It's a challenge understanding the characteristics of fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of both programs. 2 – Decide when to lock When you lock in the interest rate, the lender is sure to commit to the mortgage interest rates for the loan – usually at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day of your loan application and issuance of closing documents. Buyers who prefer to float believe that the interest rates will fall in the near future. 3 – Determine if you want to pay additional points to lower your interest rate Normally you can opt to pay additional points to lower the interest rate of your 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 in deciding if purchasing points is the best option for you. 4 – Compile your paperwork Getting a loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to get a feel for common information that goes on a loan application.