Stoneridge Realty & Property Management Services can help you finance your new home.

When purchasing a home, applying for the mortgage loan is demanding for most people, but it doesn't have to be. I have a close relationship with many mortgage lenders in the Vista area, and they've helped me realize a few things that can make the loan application process a snap.

1 – Compile a list of questions regarding your loan program

If you do not completely understand the advantages and disadvantages of all the different programs, make sure you bring a list of questions. I or one of my lender contacts will assist you with understanding the advantages and disadvantages of both programs, because it's hard to know the distinctions between fixed and adjustable rate mortgages.

2 – Determine when you want to lock

Locking in indicates that the mortgage lender commits to the interest rates for the loan – typically at the time the loan application is received. By floating the rate, you can lock the rate anytime between the day you apply for the loan and closing. Those who choose to float think that interest rates will fall 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 elect to pay additional points to lower the rate of your mortgage loan, you'll pay for them in cash at closing. Each point is 1 percent of the mortgage loan. To determine if you should buy points, click here to use our points calculator.

4 – Bring your paperwork

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