Are you going to finance a new home? Shapar Homes can help.

Applying for the mortgage loan is one of the most stressful aspects of purchasing a house, but it doesn't have to be. Being connected with several lenders in San Diego has helped me recognize some things that will make the loan application process effortless.

1 – Compose a list of questions regarding your loan program

Make sure you have a list of questions if you don't perfectly comprehend the advantages and disadvantages of all the various programs. I or one of my lenders will be able to help you understand the advantages and disadvantages of each program, because it is hard to understand the differences between both fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in the rate, a mortgage lender is sure to hold to the interest rates for the loan – typically at the time the loan application is submitted. 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 conclude that the interest rates will plunge 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

If you decide to pay additional points to lower the interest rate of your loan, you'll do so by paying for them in cash at the time of closing. Each 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

Getting a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documents together. Click here to get a list of typical loan documentation.

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