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

Many buyers believe that applying for the loan is one of the most exasperating elements of purchasing a home, but it doesn't have to be. Being connected to various lenders in Muskogee has helped me recognize some things that will make the process of applying for a loan much easier.

1 – Assemble a list of questions about your loan program

If you find that you do not thoroughly understand the ins and outs of the different programs, make sure to have a list of questions with you. I or one of my trusted lenders will assist you in understanding the advantages and disadvantages of each program, because it's a challenge to know the characteristics of fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in an interest rate, it denotes that your lender guarantees the interest rates for the loan – typically at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the loan application day and at the time of closing. Those who prefer to float think that interest rates will decline 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 decrease your interest rate

Normally you can opt 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 the time of closing. Click here to use our points calculator. It will help you decide if purchasing points is right for you.

4 – Gather your paperwork

Obtaining 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.