
	Getting your mortgage is just one part of a home purchase. Scott and Associates, Realtors is seasoned at helping both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.

Are you financing a new home in Bartlesville? Scott and Associates, Realtors can help.

When buying a home, applying for a loan is troublesome for most people, but it doesn't have to be. I have excellent relationships with several mortgage lenders in Bartlesville, and they've helped me realize a few things that will make the loan application process very manageable.

1 – Create a list of questions about your loan program

If you find that you don't fully comprehend the advantages and disadvantages of the different programs, make sure to bring a list of questions. It's a challenge to know the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts will be able to help you understand the advantages and disadvantages of both.

2 – Determine when to lock

By locking in the interest rate, your lender is keeping to the interest rates for the loan – commonly at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and issuance of closing documents. Buyers who prefer to float believe 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

Oftentimes you can choose to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the loan and is payable in cash at closing. To determine if purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a mortgage loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here to preview general information that goes on a loan application.