Let Stoneridge Realty & Property Management Services assist you with applying for your new home loan in Vista.

For many people, applying for the loan is one of the more demanding parts of purchasing a house, but it doesn't have to be. I'm very close with some mortgage lenders in Vista, and they've helped me understand a few things that will make the process of applying for a loan a snap.

1 – Make a list of questions about your loan program

Be sure to bring a list of questions if you don't thoroughly comprehend the pros and cons of the various loan programs. Oftentimes, it can be hard to understand the characteristics of both fixed and adjustable rate mortgages. I or one of my lenders will help you understand the advantages and disadvantages of each one.

2 – Decide when you want to lock

When you lock in the rate, a lender is sure to commit to the interest rates for the loan – most often at the time the loan application is received. By floating the rate, you can lock the rate at any time between the day of your loan application and at the time of closing. Those who decide to float presume that the 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 lower your interest rate

Normally you can opt to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will help you determine if purchasing points is right for you.

4 – Gather your paperwork

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