Are you financing your new home in Vista? Stoneridge Realty & Property Management Services can help.

When purchasing a home, applying for financing is very troublesome for a lot of people, but it doesn't have to be. I have a close business relationship with several lending companies in the Vista area, and they've helped me learn a few things that can make the loan application process very manageable.

1 – Create a list of questions regarding your loan program

If you don't perfectly realize the advantages and disadvantages of all the various programs, be sure to have a list of questions with you. It can be a challenge to understand the differences between fixed and adjustable rate mortgages. I or one of my lender contacts will assist you in understanding the advantages and disadvantages of each one.

2 – Decide when to lock

By locking in the interest rate, your lender is keeping to the interest rates for the loan – most often at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day of your loan application and closing. Those who decide 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 lower your interest rate

Usually you can decide to pay additional points to lower the interest rate of your loan. Each point is 1 percent of the loan and is payable in cash at closing. If you're uncertain as to whether or not buying points is the best option for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a mortgage 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.

Stoneridge Realty & Property Management Services

1920 Shadowridge Drive #104
Vista, CA 92081