Are you going to finance a new home in Stockton? Provident Realty Group can help.

For most people, applying for a mortgage loan can be one of the most stressful elements of purchasing a house, but it doesn't have to be. Being close with some lenders in the Stockton area has helped me recognize some things that can make the process of applying for a loan much easier.

1 – Compose a list of questions regarding your loan program

Make sure to have a list of questions if you don't fully understand the pros and cons of all the various programs. I or one of my lender contacts will assist you with understanding the advantages and disadvantages of both programs, because it's a challenge to understand the characteristics of both fixed and adjustable rate mortgages.

2 – Decide when you want to lock

When you lock in a rate, the mortgage lender is guaranteed to commit 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 the loan and the issuing of closing documents. Those who elect to float believe 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 lower your rate

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

4 – Gather your paperwork

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