Looking to finance your home in Muskogee?

When buying a home, applying for a mortgage loan is a very distressing event for most people, but it doesn't have to be. Having connections with various mortgage lenders in Muskogee has helped me recognize a few things that make the loan application process very easy.

1 – Compose a list of questions about your loan program

Make sure you bring a list of questions with you if you do not entirely comprehend the advantages and disadvantages of all the various programs. It's a challenge to understand the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you with understanding the advantages and disadvantages of each one.

2 – Determine when you want to lock

Locking in the interest rate signifies that your lender keeps to the interest rates for the loan – generally at the time the loan application is presented. By floating the rate, you can lock the rate anytime between application and closing. Buyers who prefer to float think interest rates will decline 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

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

4 – Bring your paperwork

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