
	Securing financing is just one aspect of a home purchase. Bryan Appraisals and Realty is experienced at assisting both new and experienced buyers alike in all areas of real estate. Call us today at (580) 924-7220 if your needs include a professional REALTOR^® experienced at the business side of buying and selling.

Are you financing a home in Durant?

Stressed out about getting financing for a home purchase? You don't have to be. I have excellent relationships with a lot of lending companies in Durant, and they've helped me realize some things that can make the loan application process pretty simple.

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

Be sure you have a list of questions if you find that you do not thoroughly grasp the ins and outs of all the different loan programs. It can be hard to understand the differences between both fixed and adjustable rate mortgages. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of both.

2 – Determine when you want to lock

When you lock in an interest rate, your mortgage lender is guaranteed to commit to the interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate anytime between the loan application day and closing. Those who decide 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 – Decide if you want to pay additional points to reduce your rate

Generally you can decide to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the loan and is payable in cash at the time of closing. To determine if you should purchase points, click here to use our points calculator.

4 – Bring your paperwork

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