
	Getting your loan locked down is just one part of a real estate transaction. Cecilia Reed Realty is seasoned at helping both new and experienced buyers alike in all areas of real estate. Call us today at (918) 649-0659 if your needs include a professional REALTOR^® experienced at the business side of real estate.

Let Cecilia Reed Realty assist you with applying for your new home loan in Poteau.

When purchasing a home, applying for a loan is distressing for a lot of people, but it doesn't have to be. I have excellent relationships with various mortgage lenders in the Poteau area, and they've helped me learn some things that make the process of applying for a loan a breeze.

1 – Assemble a list of questions regarding your loan program

Be sure you bring a list of questions if you don't fully understand the pros and cons of all the different programs. I or one of my lenders will help you understand the advantages and disadvantages of each program, because it can be a challenge to know the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in an interest rate, your mortgage lender is sure to hold to the mortgage interest rates for the loan – ordinarily at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for the loan and the issuing of closing documents. Buyers who opt to float presume that the interest rates will plunge 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 reduce your rate

Typically you can opt to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. To determine if buying points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Acquiring a loan requires a lot of paperwork, so you should take some time to get your documents together. Click here to preview typical questions you'll have to answer on a loan app.