Thinking about financing your new home in San Diego? Shapar Homes can help.

Most buyers believe that applying for the mortgage loan is one of the more demanding elements of purchasing a house, but it doesn't have to be. I'm very close to many lenders in the San Diego area, and they've helped me realize a few things that can make the process of applying for a loan easy.

1 – Create a list of questions regarding your loan program

If you do not perfectly comprehend the pros and cons of all the various loan programs, be sure to have a list of questions with you. It is hard to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my lenders will assist you in understanding the advantages and disadvantages of both programs.

2 – Decide when to lock

Locking in the interest rate signifies that the mortgage lender holds to the interest rates for the loan – most often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day you apply for your loan and closing. Buyers who elect to float presume that the interest rates will decline 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 reduce your interest rate

If you decide to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. If you're not sure if purchasing points is the best option for you, click here to use our points calculator.

4 – Gather your paperwork

Getting a loan requires lots of paperwork, so you should take some time to get your documents together. Click here for a list of general loan documentation.