
	Getting your mortgage is just one aspect of a home purchase. Prudential Alliance Realty Inc. is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Call us today at 405-348-7910 if your needs include a professional REALTOR^® ready for the business side of real estate.

Looking to finance a new home in Edmond? Prudential Alliance Realty Inc. can help.

For most people, securing the mortgage loan can be one of the most troublesome parts of buying a house. But it doesn't have to be. Being connected with a lot of lenders in Edmond has helped me learn a lot of the things that make the process of applying for a loan uncomplicated.

1 – Make a list of questions about your loan program

If you find that you do not entirely understand the advantages and disadvantages of all the various loan programs, make sure to bring a list of questions with you. It's hard to know the characteristics of fixed and adjustable rate mortgages. I or one of my trusted lenders will be able to assist you in understanding the advantages and disadvantages of both programs.

2 – Determine when you want to lock

By locking in the interest rate, the lender is holding 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 at any time between application and issuance of closing documents. Buyers who opt to float conclude the interest rates will fall 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 lower your rate

When you opt to pay additional points to lower the rate of your mortgage loan, you'll pay for them in cash at closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will help you decide if buying points is the best option for you.

4 – Gather 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 typical questions you'll have to answer on a loan app.