
	Getting your loan locked down is just one part of a home purchase. Renee Clark • is experienced at aiding new and experienced in all areas of real estate. Call us today at (405) 737-4700 if your needs include a professional REALTOR^® ready for the business side of buying and selling.

Are you going to finance your new home in Midwest City? Renee Clark • can help.

When buying a home, applying for financing is demanding for many people, but it doesn't have to be. I have excellent relationships with a lot of mortgage lenders in the Midwest City area, and they've helped me realize a few things that can make the process of applying for a loan very easy.

1 – Assemble a list of questions regarding your loan program

Make sure you have a list of questions if you find that you don't fully comprehend the ins and outs of all the various loan programs. It is a challenge understanding the distinctions between fixed and adjustable rate mortgages. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each program.

2 – Determine when to lock

When you lock in a rate, the lender is guaranteed to keep to the mortgage interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day of your loan application and at the time of closing. Buyers who decide to float conclude that 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

Oftentimes you can decide to pay additional points to lower the rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. Click here to use our points calculator. This tool will help you determine if purchasing points is right for you.

4 – Compile your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to get a feel for typical questions you'll have to answer on a loan app.