
	Securing financing is just one part of a home purchase. All agents at Metro Properties are experienced at assisting new and experienced in all areas of real estate. Contact us if your needs include a real estate pro ready for the business side of buying and selling.

Applying for your new home loan in Oklahoma City

Securing the mortgage loan is one of the more stressful aspects of purchasing a home. But it doesn't have to be. Being close to some lending companies in the Oklahoma City area has helped us recognize a few things that make the process of applying for a loan a breeze.

1 – Put together a list of questions about your loan program

If you find that you do not totally comprehend the advantages and disadvantages of the various financing options, make sure you have a list of questions with you. One of our trusted lenders or us will help you understand the advantages and disadvantages of each one, because it can be hard to understand the distinctions between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

Locking in a rate means that a mortgage lender commits to the mortgage interest rates for the loan – usually at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for the loan and issuance of closing documents. Those who elect 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 – Determine if you want to pay additional points to decrease your interest rate

When you decide to pay additional points to lower the rate of your mortgage loan, you will pay for them in cash at closing. Every point is 1 percent of the loan. To decide if you should buy points, click here to use our points calculator.

4 – Bring your paperwork

Acquiring a loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to preview general questions you'll have to answer on a loan app.