Applying for your loan in Oklahoma City with the help of PROVIDENT Real Estate

Applying for mortgage financing is one of the most exasperating aspects of buying a house for a buyer, but it doesn't have to be. I'm very close with several lending companies in Oklahoma City, and they've helped me recognize a few things that make the loan application process a breeze.

1 – Assemble a list of questions about your loan program

Be sure to bring a list of questions if you do not fully comprehend the advantages and disadvantages of the various programs. It is often a challenge to know the characteristics of both fixed and adjustable rate mortgages. I or one of my lender contacts can assist you with understanding the advantages and disadvantages of both programs.

2 – Decide when you want to lock

When you lock in an interest rate, it denotes that the lender guarantees the interest rates for the loan – commonly at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the loan application day and the issuing of closing documents. Those who decide to float believe the interest rates will dip 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

Usually you can choose to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. To decide if purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Obtaining a loan requires a lot of paperwork, so you should spend some time getting your documentation together. Click here for a list of general loan documentation.

Mortgage Calculator

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Today's Rates

Mtg Loan Rate APR
30-yr Fixed 4.35% 4.39%
15-yr Fixed 3.78% 3.84%
1-yr Adj 3.84% 3.86%
* national averages
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