Let Leslie Scott Realty, LLC assist you in applying for a home loan.

For many people, applying for mortgage financing is one of the more troublesome parts of purchasing a house, but it doesn't have to be. I have a close business relationship with many lenders in the Muskogee area, and they've helped me realize a few things that will make the process of applying for a loan very manageable.

1 – Create a list of questions regarding your loan program

If you find that you don't thoroughly comprehend the pros and cons of all the different loan programs, be sure to have a list of questions. I or one of my lenders will be able to help you understand the advantages and disadvantages of each program, because it can be hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in the rate, it signifies 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 anytime between application and at the time of closing. Those who choose to float conclude 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 lower your interest rate

Generally you can elect to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at closing. Click here to use our points calculator. It will assist you in determining if purchasing points is the best option for you.

4 – Compile your paperwork

Acquiring 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 normal loan documentation.