Are you looking to finance a new home? Leslie Scott Realty, LLC can help.

A lot of people think applying for the loan is one of the more stressful aspects of purchasing a home, but it doesn't have to be. Being close to various lending companies in Muskogee has helped me learn some things that make the loan application process easy.

1 – Create a list of questions regarding your loan program

If you find that you do not entirely understand the advantages and disadvantages of all the different programs, be sure to bring a list of questions with you. I or one of my lender contacts can help you understand the advantages and disadvantages of both programs, because it is hard to know the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the interest rate, your mortgage lender is sure to keep to the 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 issuance of closing documents. Those who elect to float conclude that the interest rates will dip 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 lower your interest rate

Oftentimes you can elect to pay additional points to lower the rate of your loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will assist you in deciding if buying points is right for you.

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here for a list of normal loan documentation.