Are you financing a new home in Muskogee?

Applying for the loan is one of the most distressing aspects of purchasing a house, but it doesn't have to be. I'm close with various lenders in the Muskogee area, and they've helped me learn some things that make the loan application process very manageable.

1 – Organize a list of questions regarding your loan program

If you find that you don't perfectly understand the advantages and disadvantages of all the various programs, be sure to have a list of questions. I or one of my lender contacts can assist you in understanding the advantages and disadvantages of each program, because it is hard to know the differences between both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in an interest rate, it denotes that the mortgage lender holds to the interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the loan application day and closing. Those who choose to float conclude 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 reduce your interest rate

Typically you can elect 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 uncertain if buying points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

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


Leslie Scott Realty, LLC

3505 Porter Ave
Muskogee, OK 74403