Let Provident Realty Group assist you with applying for your new home loan in Stockton.

For most people, applying for the loan is one of the more demanding aspects of purchasing a house, but it doesn't have to be. I have a close business relationship with various mortgage lenders in Stockton, and they've helped me learn a few things that can make the process of applying for a loan a breeze.

1 – Create a list of questions regarding your loan program

Be sure to have a list of questions if you don't thoroughly realize the pros and cons of the different programs. It is often hard to know the characteristics of both fixed and adjustable rate mortgages. I or one of my trusted lenders can help you understand the advantages and disadvantages of both programs.

2 – Determine when you want to lock

When you lock in the rate, it designates that the mortgage lender keeps to the interest rates for the loan – typically at the time the loan application is presented. By floating the rate, you can lock the rate at any time between the day you apply for your loan and issuance of closing documents. Buyers who choose 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

When you choose to pay additional points to lower the rate of your mortgage loan, you will do so by paying for them in cash at the time of closing. Every point is 1 percent of the loan. If you're unsure if purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Acquiring a mortgage loan requires a lot of paperwork, so you should spend some time getting all your documentation together. Click here to get a list of general loan documentation.