
	Securing financing is just one aspect of a real estate transaction. Allied Inc. Realtors is experienced at helping both new and experienced buyers alike in all areas of real estate. Call us today at 405.740.6616 if your needs include a real estate pro ready for the business side of buying and selling.

Are you thinking of financing your new home? Allied Inc. Realtors can help.

For a lot of people, securing financing is one of the most stressful elements of purchasing a house. But it doesn't have to be. Being close with many mortgage lenders in Oklahoma City has helped me understand a few things that make the loan application process easy.

1 – Assemble a list of questions about your loan program

If you find that you do not entirely comprehend the pros and cons of all the different loan programs, make sure to have a list of questions with you. I or one of my trusted lenders will be able to assist you with understanding the advantages and disadvantages of both programs, because it is a challenge to know the differences between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

By locking in the rate, your mortgage lender is holding to the mortgage interest rates for the loan – generally at the time the loan application is presented. By floating the rate, you can lock the rate at any time between application and closing. Those who decide to float conclude 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 rate

Oftentimes you can opt to pay additional points to lower the rate of your mortgage loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. It will assist you in deciding if buying points is the best option for you.

4 – Compile your paperwork

Getting a mortgage loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to get a feel for typical information that goes on a loan application.

Mortgage Calculator:

Sales Price:		$
Down:		%
Interest Rate:		%
Term:		yrs

Monthly payment:		$

Today's Rates:

Mtg Loan

Rate

APR

30-yr Fixed	3.87%	4%
15-yr Fixed	3.14%	3.31%
1-yr Adj	2.76%	3.42%

* national averages

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