Do you wish to finance your home? Leslie Scott Realty, LLC can help.

Applying for the mortgage loan is one of the most troublesome elements of buying a house, but it doesn't have to be. Being close with some mortgage lenders in the Muskogee area has helped me realize a few things that make the loan application process very manageable.

1 – Put together a list of questions regarding your loan program

If you find that you don't fully understand the ins and outs of all the various programs, be sure to bring a list of questions. Oftentimes, it can be a challenge to know the distinctions between both fixed and adjustable rate mortgages. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each.

2 – Determine when to lock

By locking in the interest rate, a mortgage lender is keeping to the interest rates for the loan – normally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for the loan and closing. Those who decide to float presume that 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 lower your interest rate

Oftentimes you can decide to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. If you're not sure if purchasing points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Getting a loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to get a list of normal loan documentation.