Are you looking to finance your home? Shapar Homes can help.

A lot of people believe applying for mortgage financing is one of the more distressing parts of purchasing a home, but it doesn't have to be. I'm very well-connected to several lending companies in the San Diego area, and they've helped me realize some things that will make the loan application process a breeze.

1 – Assemble a list of questions about your loan program

Make sure you have a list of questions with you if you do not completely comprehend the ins and outs of the different programs. I or one of my lenders will be able to assist you with understanding the advantages and disadvantages of both programs, because it is hard to know the differences between fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in the rate, your lender is sure to commit to the mortgage interest rates for the loan – usually at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day of your loan application and issuance of closing documents. Buyers who opt to float believe interest rates will dip 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 lower your rate

Normally you can choose to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the mortgage loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will help you determine if buying points is the best option for you.

4 – Compile your paperwork

Getting a mortgage loan requires a lot of paperwork, so you should take some time to get your documentation together. Click here to get a list of common loan documentation.