Getting your loan locked down is just one part of a real estate transaction. Alliance Realty Services, LLC is seasoned at aiding both new and experienced buyers alike in all areas of real estate. Call us today at 918-649-3520 if your needs include a real estate pro ready for the business side of real estate.

Applying for your loan with the help of Alliance Realty Services, LLC

Stressed out about applying for a mortgage? You don't have to be. Having connections to various lending companies in Poteau has helped me realize a few things that make the process of applying for a loan a snap.

1 – Make a list of questions regarding your loan program

Make sure you bring a list of questions with you if you don't entirely grasp the ins and outs of the various loan programs. I or one of my lender contacts will assist you with understanding the advantages and disadvantages of both programs, because it is a challenge to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in a rate, it signifies that your mortgage lender keeps to the mortgage interest rates for the loan – usually 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. Those who decide to float presume interest rates will plunge 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 lower your interest rate

When you choose to pay additional points to lower the interest rate of your loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will assist you in determining if buying points is the best option for you.

4 – Compile your paperwork

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