Looking to finance your new home in Muskogee? Leslie Scott Realty, LLC can help.

When buying a home, applying for a loan is a troublesome event for most people, but it doesn't have to be. I'm very connected to many mortgage lenders in the Muskogee area, and they've helped me realize some things that can make the process of applying for a loan a snap.

1 – Make a list of questions about your loan program

If you find that you don't perfectly understand the ins and outs of all the various loan programs, be sure you bring a list of questions with you. I or one of my lenders will assist you with understanding the advantages and disadvantages of each one, because it can be a challenge to know the characteristics of fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in a rate, the mortgage lender is guaranteed to hold to the interest rates for the loan – typically at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day of your loan application and closing. Those who choose to float conclude that the interest rates will dip 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

When you decide to pay additional points to lower the interest rate of your loan, you will do so by paying for them in cash at the time of closing. Each point is 1 percent of the loan. If you're not sure if buying points is right for you, click here to use our points calculator.

4 – Gather your paperwork

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