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

When buying a home, applying for a mortgage loan is a stressful event for most people, but it doesn't have to be. I have a close relationship with some lending companies in Muskogee, and they've helped me recognize some things that make the loan application process effortless.

1 – Assemble a list of questions about your loan program

Make sure you have a list of questions if you do not fully realize the ins and outs of the various programs. It's a challenge to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of both.

2 – Determine when to lock

Locking in the interest rate indicates that a lender commits to the interest rates for the loan – commonly at the time the loan application is received. By floating the rate, you can lock the rate anytime between application and closing. Buyers who decide to float think that interest rates will decline 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 reduce your interest rate

Normally you can opt to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. If you're undecided on whether or not purchasing points is the best option for you, click here to use our points calculator.

4 – Bring your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting your documents together. Click here to get a list of typical loan documentation.