Securing financing is just one aspect of getting into a new home. ReMax Preferred Properties is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a professional REALTOR® ready for the business side of real estate.


Applying for a loan with the help of ReMax Preferred Properties

When buying a home, applying for a mortgage loan is very exasperating for a lot of people, but it doesn't have to be. I have close relationships with several mortgage lenders in Oklahoma City, and they've helped me recognize a few things that can make the loan application process uncomplicated.

1 – Compile a list of questions regarding your loan program

If you find that you don't thoroughly comprehend the ins and outs of all the various financing options, be sure to bring a list of questions. It is often a challenge to understand the characteristics of fixed and adjustable rate mortgages. I or one of my lender contacts can help you understand the advantages and disadvantages of each.

2 – Decide when you want to lock

When you lock in a rate, a mortgage lender is sure to commit to the interest rates for the loan – generally at the time the loan application is received. By floating the rate, you can lock the rate anytime between application and issuance of closing documents. Those who elect to float think 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

When you elect to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. If you're not sure if purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

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

ReMax Preferred Properties 3705 W Memorial Rd Suite 1310 Oklahoma City, OK 73134-1512
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