Are you thinking of financing your new home in Edmond?

Feeling lots of anxiety over applying for a mortgage? You don't have to be. Being familiar with many lenders in the Edmond area has helped us understand a few things that can make the process of applying for a loan a snap.

1 – Put together a list of questions about your loan program

If you do not fully realize the ins and outs of the various programs, make sure to bring a list of questions with you. One of our lender contacts or staff can assist you with understanding the advantages and disadvantages of each one, because it can be a challenge to understand the characteristics of fixed and adjustable rate mortgages.

2 – Determine when you want to lock

When you lock in the interest rate, a mortgage lender is guaranteed to keep to the mortgage interest rates for the loan – normally at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between application and the issuing of closing documents. Those who prefer to float presume that interest rates will fall in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Bring your paperwork

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

Have More Questions?

Securing financing is just one part of a home purchase. Castles & Homes Real Estate is seasoned at helping new and experienced in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.

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