Are you thinking of financing your home in Muskogee? Leslie Scott Realty, LLC can help.

Many people believe applying for the loan is one of the more stressful aspects of purchasing a house, but it doesn't have to be. Being familiar with some mortgage lenders in Muskogee has helped me learn some things that can make the process of applying for a loan a snap.

1 – Compose a list of questions regarding your loan program

If you do not entirely realize the pros and cons of the various loan programs, make sure you bring a list of questions with you. I or one of my lender contacts will be able to assist you with understanding the advantages and disadvantages of each program, because it is a challenge to know the differences between both fixed and adjustable rate mortgages.

2 – Decide when to lock

Locking in the rate indicates that your mortgage lender guarantees the interest rates for the loan – often at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for your loan and issuance of closing documents. Those who choose to float conclude that the 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 decrease your rate

When you opt to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at closing. Every point is 1 percent of the loan. If you're uncertain if buying points is right for you, click here to use our points calculator.

4 – Gather your paperwork

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