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Looking to finance your home in San Diego? Sand & Sea Realty can help.

For many people, applying for a mortgage loan can be one of the most demanding elements of purchasing a house, but it doesn't have to be. I have a close relationship with a lot of lenders in San Diego, and they've helped me recognize a few things that make the loan application process much easier.

1 – Compile a list of questions regarding your loan program

Be sure you have a list of questions with you if you find that you don't perfectly comprehend the ins and outs of all the various loan programs. I or one of my lenders can help you understand the advantages and disadvantages of each program, because it is a challenge to understand the distinctions between fixed and adjustable rate mortgages.

2 – Decide when to lock

Locking in the interest rate indicates that the lender guarantees 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 the day of your loan application and issuance of closing documents. Those who prefer to float presume that the 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 reduce your interest rate

If you opt to pay additional points to lower the interest rate of your mortgage loan, you'll do so by paying for them in cash at the time of closing. Each point is 1 percent of the mortgage loan. If you're undecided on whether or not buying points is right for you, click here to use our points calculator.

4 – Compile your paperwork

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

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