
	Getting your loan locked down is just one aspect of getting into a new home. Reuter Realty is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 405-340-4377 if your needs include a real estate pro experienced at the business side of real estate.

Applying for a home loan with help from Reuter Realty

When buying a home, applying for a mortgage loan is demanding for many people, but it doesn't have to be. I have close working relationships with several mortgage lenders in the Oklahoma City area, and they've helped me understand some things that make the loan application process effortless.

1 – Organize a list of questions about your loan program

Be sure you bring a list of questions with you if you find that you do not fully grasp the ins and outs of all the various loan programs. I or one of my lenders can assist you with understanding the advantages and disadvantages of each one, because it's a challenge to know the characteristics of fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in an interest rate, it denotes that your lender guarantees the mortgage interest rates for the loan – commonly at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for the loan and the issuing of closing documents. Those who opt to float presume that the interest rates will decline 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 reduce your interest rate

Oftentimes you can decide to pay additional points to lower the rate of your 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 buying points is the best option for you.

4 – Bring your paperwork

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