Shapar Homes can help you finance a home.

For a lot of people, applying for financing is one of the most distressing aspects of buying a house, but it doesn't have to be. I have a close business relationship with many lenders in the San Diego area, and they've helped me recognize some things that can make the loan application process a snap.

1 – Make a list of questions regarding your loan program

If you find that you do not entirely understand the ins and outs of all the various programs, be sure you have a list of questions. I or one of my lenders will assist you in understanding the advantages and disadvantages of each one, because it can be a challenge to know the differences between fixed and adjustable rate mortgages.

2 – Determine when to lock

When you lock in the interest rate, the lender is guaranteed to keep to the interest rates for the loan – ordinarily at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day you apply for your loan and the issuing of closing documents. Buyers who choose to float presume that interest rates will drop 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 lower your rate

Oftentimes you can choose 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 the time of closing. To determine if buying points is right for you, click here to use our points calculator.

4 – Gather your paperwork

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