Securing financing is just one part of a home purchase. Murney Associates, Realtors is experienced 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 your home?

Feeling lots of anxiety over applying for a mortgage? You don't have to be. Having connections to many mortgage lenders in the Ozark area has helped me understand some things that can make the loan application process uncomplicated.

1 – Assemble a list of questions regarding your loan program

If you find that you don't thoroughly understand the pros and cons of all the different financing options, be sure to have a list of questions. It can be a challenge to know the differences between both fixed and adjustable rate mortgages. I or one of my lenders will help you understand the advantages and disadvantages of each.

2 – Decide when you want to lock

By locking in the rate, the lender is keeping to the mortgage interest rates for the loan – generally at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for your loan and at the time of closing. Buyers who prefer to float think 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 decrease your rate

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

4 – Compile your paperwork

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

Murney Associates, Realtors 1721 S. 20th Street Suite 109 Ozark, MO 65721
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