The next step is the actual application. Have all the necessary documents ready. The application process is the easy part — provided you’ve gathered documents necessary to prove claims you make on the application.

Along with the lender you need to also research loan costs, including the interest rate, broker fees, points (each point is one percent of the amount you borrow), prepayment penalties, the loan term, application fees, credit report fee, appraisal and a host of others.

Comparison Shopping For San Diego Home Loan: As mentioned earlier there are any number of lenders - direct lenders and mortgage brokers willing to offer you a mortgage for your San Diego property. Direct lenders have limited number of in-house loans available. A broker on the other hand can shop among many lenders to find a loan that suits your requirements. In return for this service they get a part of the money you borrow as commission. The commission amount varies.