Thinking of financing your home? Leslie Scott Realty, LLC can help.

Applying for the mortgage loan is one of the most stressful parts of buying a home, but it doesn't have to be. I'm pretty connected with several lending companies in Muskogee, and they've helped me learn a few things that will make the loan application process very easy.

1 – Organize a list of questions regarding your loan program

Make sure to bring a list of questions with you if you don't perfectly understand the pros and cons of all the various loan programs. It can be a challenge to know the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts can assist you with understanding the advantages and disadvantages of each program.

2 – Decide when you want to lock

By locking in the rate, your lender is committing to the mortgage interest rates for the loan – often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between application and closing. Those who choose to float believe interest rates will decline in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Decide if you want to pay additional points to reduce your rate

Usually you can decide to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. If you're undecided on whether or not buying points is right for you, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to get a list of typical loan documentation.