Securing financing is just one part of a home purchase. Dreams Do Come True is experienced at aiding both new and experienced buyers alike in all areas of real estate. Contact me if your needs include a professional REALTOR® ready for the business side of real estate.

Looking to finance a new home?

When purchasing a home, the loan application is stressful for most people, but it doesn't have to be. I have close professional relationships with a lot of mortgage lenders in the Edmond area, and they've helped me recognize a few things that will make the loan application process easy.

1 – Assemble a list of questions about your loan program

Be sure you bring a list of questions if you find that you don't completely grasp the ins and outs of all the different loan programs. One of my trusted lenders or I will assist you with understanding the advantages and disadvantages of each one, because it can be hard to know the differences between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

By locking in the rate, a lender is committing to the interest rates for the loan – often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day of your loan application and issuance of closing documents. Those who elect to float conclude 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 reduce your rate

When you elect to pay additional points to lower the interest rate of your loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. If you're not sure if purchasing points is right for you, click here to use my points calculator.

4 – Gather your paperwork

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