Do you want to finance a home in Vista? Stoneridge Realty & Property Management Services can help.

When buying a home, applying for a loan is a demanding event for many people, but it doesn't have to be. Being connected with several lending companies in Vista has helped me realize some things that can make the process of applying for a loan effortless.

1 – Compose a list of questions about your loan program

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

2 – Determine when to lock

When you lock in the rate, your lender is sure to hold to the interest rates for the loan – most often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between application and closing. Buyers who prefer to float think that interest rates will drop 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

Generally you can choose to pay additional points to lower the rate of your loan. Every point is 1 percent of the loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will assist you in deciding if buying points is right for you.

4 – Bring your paperwork

Obtaining a loan requires a lot of paperwork, so you should take some time to get all your documents together. Click here for a list of typical loan documentation.