Applying for a loan in Muskogee with the help of Leslie Scott Realty, LLC

Applying for the mortgage loan can be one of the most stressful aspects of buying a home, but it doesn't have to be. I'm pretty familiar with various lenders in Muskogee, and they've helped me understand a few things that can make the loan application process very easy.

1 – Make a list of questions regarding your loan program

If you do not perfectly understand the ins and outs of the various loan programs, be sure you bring a list of questions. I or one of my lenders will be able to help you understand the advantages and disadvantages of each one, because it can be hard to understand the distinctions between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in a rate, it signifies that your mortgage lender keeps to the mortgage 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 loan application day and closing. Buyers who opt to float believe 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 – Decide if you want to pay additional points to decrease your rate

Usually you can decide to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. Click here to use our points calculator. It will help you determine if buying points is right for you.

4 – Compile your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here for a list of typical loan documentation.