February 12, 2015 0likes 586 views Congratulations! You’ve found the house in Boca Raton you’ve always wanted. Your dream of homeownership is about to come true. Finally, here comes the part most people dread—securing a mortgage loan. But if you choose the right mortgage lender in Boca Raton, the process doesn’t have to be difficult. But how do you know which is the right one for you? Here are some simple steps you should take to make your search easier. Believe it or not, the hard work begins before choosing a mortgage lender. The first important step is to properly organize and update your financial portfolio. That means get a copy of your credit report, bank account statements, pay stubs and make an entire financial inventory. Make sure you have a complete list of all your assets including investment accounts, retirement accounts and any personal property you may own. The next step is to do your homework. Interest rates are the biggest factor when determining mortgage loans in Boca Raton. Talk to friends and relatives about their experiences with a bank or a mortgage broker in Boca Raton. Then search the Internet financial section for mortgage interest rates. When researching mortgage lenders, ask them what types of mortgages you should consider—whether it’s a fixed rate mortgage or an adjustable rate mortgage. Once you get a list of mortgage loans in Boca Raton from various lenders, compare the interest rates applicable to each loan. For example, ask the lender how a 30-year mortgage interest rates on $100,000 compare to the interest rate on 15 and 20 year loans. What started out as a complicated process will begin to become a little more focused. Surprises are great when throwing a party. But they’re definitely no fun when purchasing a home. Ask the mortgage lender in Boca Raton about estimated charges, costs and fees required from the borrower at closing time. A reputable mortgage company in Boca Raton should be able to process your request. This should make the job of choosing a mortgage lender in Boca Raton easier. Now that you have collected information from different mortgage companies in Boca Raton, now is the time to compare all the written documentation. It’s easy to fall for the trap of choosing the lowest interest rate. However, beware! There may thousands of dollars of fees and expense than a slightly higher interest rate. You now have everything you need to make a decision on a mortgage lender in Boca Raton. Cross off mortgage lenders that don’t provide clear written information. You can now make an educated decision on whether you need a 30 year fixed rate mortgage or an adjustable rate mortgage. To learn more on what mortgage loans in Boca Raton are best for you, call the professionals at Ace Mortgage Loan Corp. and schedule an appointment today.