Applying for a home loan with the help of PROVIDENT Real Estate

When buying a home, applying for the mortgage loan is troublesome for a lot of people, but it doesn't have to be. I'm very close to a lot of lending companies in Oklahoma City, and they've helped me understand a few things that make the loan application process a breeze.

1 – Compile a list of questions regarding your loan program

Be sure you bring a list of questions if you find that you do not thoroughly understand the ins and outs of all the different loan programs. I or one of my trusted lenders will be able to help you understand the advantages and disadvantages of both programs, because it's hard to know the distinctions between both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in an interest rate, it indicates that a mortgage lender commits to the interest rates for the loan – most often at the time the loan application is presented. By floating the rate, you can lock the rate anytime between application and the issuing of closing documents. Buyers who elect to float think the interest rates will decline in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to reduce your interest rate

When you decide to pay additional points to lower the interest rate of your loan, you'll pay for them in cash at closing. Every point is 1 percent of the loan. Click here to use our points calculator. This tool will help you decide if buying points is the best option for you.

4 – Compile your paperwork

Acquiring a mortgage loan requires lots of paperwork, so you should take some time to get all your documents 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 2.8% 2.85%
15-yr Fixed 2.33% 2.42%
1-yr Adj 2.87% 2.89%
* national averages
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PROVIDENT Real Estate

3636 NW 63rd St. Suite A
Oklahoma City, OK 73116