Are you looking to finance a home in Bakersfield?

A lot of people think that applying for the loan is one of the more distressing parts of purchasing a house, but it doesn't have to be. Being close with many lending companies in the Bakersfield area has helped me realize some things that will make the loan application process very easy.

1 – Make a list of questions about your loan program

Make sure you bring a list of questions if you find that you don't completely comprehend the pros and cons of the various loan programs. I or one of my lenders can assist you in understanding the advantages and disadvantages of each program, because it's hard to know the distinctions between fixed and adjustable rate mortgages.

2 – Decide when to lock

Locking in designates that the lender guarantees the mortgage interest rates for the loan – most often at the time the loan application is submitted. By floating the rate, you can lock the rate anytime between the day you apply for the loan and issuance of closing documents. Those who decide to float conclude that interest rates will drop 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

If you choose to pay additional points to lower the interest rate of your loan, you will pay for them in cash at the time of closing. Every point is 1 percent of the mortgage loan. Click here to use our points calculator. This tool will help you decide if purchasing points is right for you.

4 – Gather your paperwork

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