Let Coldwell Banker Mike Jones Company help you apply for a new home loan in Edmond.

Applying for the loan can be one of the most stressful elements of purchasing a home for a buyer, but it doesn't have to be. I'm pretty connected to a lot of lenders in Edmond, and they've helped me learn a few things that will make the process of applying for a loan effortless.

1 – Assemble a list of questions about your loan program

If you find that you do not perfectly understand the pros and cons of the various programs, make sure to bring a list of questions. It can be hard to understand the characteristics of fixed and adjustable rate mortgages. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of each.

2 – Determine when you want to lock

When you lock in a rate, a lender is sure to commit to the mortgage interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for your loan and closing. Buyers who choose to float think 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 lower your interest rate

Normally you can elect to pay additional points to lower the rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will help you decide if purchasing points is right for you.

4 – Bring your paperwork

Getting a loan requires lots of paperwork, so you should take some time to get all your documentation together. Click here for a list of typical loan documentation.