Do you wish to finance a home in Tulsa? Hickerson Realty can help.

Applying for the loan is one of the most troublesome parts of buying a house for a buyer, but it doesn't have to be. I'm very well-connected with a lot of lending companies in Tulsa, and they've helped me realize a few things that will make the process of applying for a loan uncomplicated.

1 – Compose a list of questions regarding your loan program

If you don't entirely understand the ins and outs of the various loan programs, make sure to bring a list of questions. I or one of my lenders will help you understand the advantages and disadvantages of each one, because it is hard to understand the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when you want to lock

Locking in the rate denotes that a lender keeps to the mortgage interest rates for the loan – normally 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 prefer to float think that the interest rates will drop 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

Usually you can opt to pay additional points to lower the interest 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 purchasing points is right for you.

4 – Gather your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should take some time to get your documentation together. Click here to get a list of typical loan documentation.

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