Leslie Scott Realty, LLC can help you apply for your loan in Muskogee.

Applying for a loan is one of the most demanding elements of buying a home, but it doesn't have to be. Being familiar with many lending companies in the Muskogee area has helped me realize a few things that make the loan application process pretty simple.

1 – Create a list of questions regarding your loan program

If you do not fully realize the pros and cons of all the various loan programs, be sure you have a list of questions. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each one, because it is a challenge to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in the rate, the lender is committing to the mortgage interest rates for the loan – usually at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for your loan and the issuing of closing documents. Those who elect to float think interest rates will plunge 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

When you elect to pay additional points to lower the rate of your loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. To determine if purchasing points is right for you, click here to use our points calculator.

4 – Gather your paperwork

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