
	Securing financing is just one aspect of getting into a new home. Redbud Realty & Associates is experienced at aiding both new and experienced buyers alike in all areas of real estate. Call us today at (405) 216-0020 if your needs include a real estate pro experienced at the business side of buying and selling.

Thinking about financing your new home in Edmond? Redbud Realty & Associates can help.

When purchasing a home, applying for the mortgage loan is very demanding for many people, but it doesn't have to be. I have excellent relationships with various lenders in the Edmond area, and they've helped me realize some things that will make the loan application process pretty simple.

1 – Compile a list of questions about your loan program

If you do not fully understand the advantages and disadvantages of the various financing options, be sure you bring a list of questions with you. I or one of my lender contacts will assist you with understanding the advantages and disadvantages of each program, because it's hard to know the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when to lock

Locking in an interest rate denotes that the lender guarantees the mortgage interest rates for the loan – most often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between application and closing. Buyers who prefer to float presume that the interest rates will dip 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 lower your interest rate

When you opt to pay additional points to lower the interest rate of your mortgage loan, you will pay for them in cash at closing. Each point is 1 percent of the loan. If you're uncertain if buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to see general information that goes on a loan application.

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