Let Shapar Homes help you with financing your home.

Applying for the mortgage loan is one of the most demanding aspects of buying a house for a buyer, but it doesn't have to be. I'm very connected with several lenders in the San Diego area, and they've helped me recognize some things that make the loan application process a breeze.

1 – Compose a list of questions regarding your loan program

If you don't entirely comprehend the ins and outs of the various loan programs, make sure you have a list of questions. Oftentimes, it can be hard to understand the distinctions between both fixed and adjustable rate mortgages. I or one of my trusted lenders will assist you in understanding the advantages and disadvantages of each one.

2 – Decide when to lock

When you lock in a rate, a mortgage lender is sure to keep to the mortgage interest rates for the loan – typically at the time the loan application is presented. By floating the rate, you can lock the rate anytime between the day you apply for your loan and closing. Those who choose to float conclude 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 interest rate

When you elect to pay additional points to lower the rate of your mortgage loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the mortgage loan. To determine if you should purchase points, click here to use our points calculator.

4 – Gather your paperwork

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