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

Most buyers think that applying for financing is one of the most troublesome elements of buying a house, but it doesn't have to be. I'm pretty well-connected with several lending companies in the Muskogee area, and they've helped me learn some things that make the loan application process very manageable.

1 – Make a list of questions regarding your loan program

Be sure to have a list of questions if you do not totally comprehend the ins and outs of all the different programs. Oftentimes, it can be a challenge understanding the differences between both fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you in understanding the advantages and disadvantages of each program.

2 – Determine when to lock

Locking in an interest rate denotes that your mortgage lender commits to the mortgage interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between application and the issuing of closing documents. Buyers who decide to float presume that the interest rates will drop 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 decrease your rate

If you opt to pay additional points to lower the interest rate of your mortgage loan, you'll pay for them in cash at closing. Every point is 1 percent of the mortgage loan. If you're undecided as to whether or not buying points is right for you, click here to use our points calculator.

4 – Gather your paperwork

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

Leslie Scott Realty, LLC

3505 Porter Ave
Muskogee, OK 74403