Securing financing is just one part of getting into a new home. One Broker Place is experienced at helping 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.

Do you wish to finance your new home? One Broker Place can help.

Applying for the loan is one of the more stressful parts of purchasing a house. But it doesn't have to be. Being close to several lending companies in the Stillwater area has helped us learn a lot of the things that can make the loan application process very manageable.

1 – Create a list of questions regarding your loan program

If you don't completely understand the advantages and disadvantages of all the various loan programs, be sure you bring a list of questions. Oftentimes, it can be a challenge to know the differences between fixed and adjustable rate mortgages. One of our lender contacts or associates will be able to help you understand the advantages and disadvantages of each one.

2 – Decide when to lock

When you lock in a rate, a lender is guaranteed to hold to the interest rates for the loan – ordinarily 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 at the time of closing. Buyers who choose to float think that 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 interest rate

Typically you can elect to pay additional points to lower the rate of your mortgage loan. Each point is 1 percent of the mortgage loan and is payable in cash at closing. To decide if purchasing points is right for you, click here to use our points calculator.

4 – Gather your paperwork

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

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