Securing financing is just one aspect of a real estate transaction. Kay's Real Estate is experienced at helping new and experienced in all areas of real estate. Call us today at 580.255.8657 if your needs include a real estate pro ready for the business side of buying and selling.


Do you want to finance your new home in Duncan?

When buying a home, applying for the mortgage loan is demanding for many people, but it doesn't have to be. We have a close business relationships with many lending companies in the Duncan area, and they've helped us recognize a few things that can make the loan application process a snap.

1 – Create a list of questions about your loan program

If you don't fully understand the pros and cons of all the various loan programs, make sure to bring a list of questions. One of my lender contacts will assist you in understanding the advantages and disadvantages of each one, because it's hard to know the distinctions between both fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in an interest rate, it denotes that the mortgage lender keeps to the mortgage interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the loan application day and the issuing of closing documents. Buyers who prefer to float presume that interest rates will fall 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

Generally you can decide to pay additional points to lower the rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at closing. Click here to use our points calculator. It will assist you in deciding if buying points is the best option for you.

4 – Gather your paperwork

Obtaining a loan requires lots of paperwork, so you should spend some time getting all your documents together. Click here to preview general information that goes on a loan application.