Leslie Scott Realty, LLC can assist you in financing your home.

Applying for a loan is one of the most distressing elements of purchasing a house for a buyer, but it doesn't have to be. Being connected with some mortgage lenders in Muskogee has helped me realize some things that can make the loan application process pretty simple.

1 – Compose a list of questions about your loan program

Make sure you have a list of questions if you find that you don't completely understand the pros and cons of all the various programs. It's a challenge to know the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of each program.

2 – Determine when to lock

When you lock in the rate, it denotes that the lender commits to the mortgage interest rates for the loan – commonly at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for the loan and the issuing of closing documents. Buyers who opt to float think that the 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 rate

If you decide to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. Click here to use our points calculator. This tool will help you decide if buying points is right for you.

4 – Compile your paperwork

Obtaining a loan requires lots of paperwork, so you should take some time to get your documents together. Click here for a list of common loan documentation.