Let Leslie Scott Realty, LLC help you with financing your new home in Muskogee.

When purchasing a home, applying for the loan is very distressing for a lot of people, but it doesn't have to be. Having connections to several lending companies in the Muskogee area has helped me realize some things that will make the process of applying for a loan much easier.

1 – Create a list of questions about your loan program

If you do not entirely understand the advantages and disadvantages of the various loan programs, make sure you have a list of questions. It can be a challenge understanding the differences between both fixed and adjustable rate mortgages. I or one of my trusted lenders will help you understand the advantages and disadvantages of both.

2 – Decide when to lock

When you lock in a rate, your mortgage lender is guaranteed to hold to the mortgage interest rates for the loan – commonly at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for your loan and at the time of closing. Those who choose to float believe that interest rates will plunge 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 lower your rate

When you opt to pay additional points to lower the interest rate of your loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will assist you in deciding if purchasing points is right for you.

4 – Bring your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here for a list of general loan documentation.