Getting your loan locked down is just one part of a real estate transaction. Bill Cox Real Estate is seasoned at aiding new and experienced in all areas of real estate. Contact us if your needs include a professional REALTOR® ready for the business side of buying and selling.

Are you financing a new home?

Feeling lots of anxiety over applying for a mortgage? You don't have to be. I have excellent relationships with various mortgage lenders in the Stigler area, and they've helped me recognize a few things that make the loan application process pretty simple.

1 – Compile a list of questions regarding your loan program

If you do not fully realize the advantages and disadvantages of the different financing options, make sure to have a list of questions. I or one of my trusted lenders can assist you with understanding the advantages and disadvantages of each program, because it can be a challenge to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in an interest rate, your lender is sure to keep to the mortgage 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 day of your loan application and issuance of closing documents. Buyers who opt to float conclude the interest rates will decline 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

If you elect to pay additional points to lower the rate of your mortgage loan, you'll do so by paying for them in cash at the time of closing. Each point is 1 percent of the loan. Click here to use our points calculator. This tool will help you decide if purchasing points is the best option for you.

4 – Compile your paperwork

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

Cox Real Estate

105 N. Broadway P.O. Box 130
Stigler, OK 74462-2041