Thinking of financing your new home? Leslie Scott Realty, LLC can help.

Most buyers think applying for a loan is one of the more troublesome elements of buying a home, but it doesn't have to be. Being close to some mortgage lenders in the Muskogee area has helped me recognize a few things that will make the loan application process very easy.

1 – Organize a list of questions about your loan program

Be sure you bring a list of questions with you if you do not fully comprehend the ins and outs of all the different programs. It is a challenge understanding the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders will help you understand the advantages and disadvantages of each.

2 – Decide when to lock

When you lock in an interest rate, the mortgage lender is sure to keep to the mortgage interest rates for the loan – most often at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and at the time of closing. Those who decide to float presume that interest rates will dip 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 rate

When you elect to pay additional points to lower the interest rate of your loan, you'll pay for them in cash at the time of closing. Each point is 1 percent of the loan. Click here to use our points calculator. It will assist you in deciding if buying points is right for you.

4 – Gather your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to get a list of common loan documentation.