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

Applying for the mortgage loan can be one of the most demanding elements of buying a house for a buyer, but it doesn't have to be. I have a close relationship with many lending companies in Vista, and they've helped me learn a few things that make the process of applying for a loan a snap.

1 – Compose a list of questions about your loan program

If you find that you don't thoroughly comprehend the advantages and disadvantages of all the different loan programs, make sure to have a list of questions. Oftentimes, it can be a challenge to understand the differences between fixed and adjustable rate mortgages. I or one of my lenders can assist you with understanding the advantages and disadvantages of each.

2 – Determine when you want to lock

When you lock in an interest rate, your mortgage lender is guaranteed to hold to the interest rates for the loan – normally at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between the day you apply for the loan and issuance of closing documents. Buyers who choose to float think interest rates will dip 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 decrease your interest rate

Usually you can elect to pay additional points to lower the rate of your mortgage 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 help you determine if purchasing points is right for you.

4 – Bring your paperwork

Getting 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 common loan documentation.