Interest rates have turned up again, and federal regulators are after lenders to curtail certain loans; some Californian borrowers are already feeling the heat.

If you don't accelerate your mortgage application process, it could get caught in a new tighter, more costly underwriting net.

Mortgage rates turning up again were the latest warning sign suggesting consumers make haste if they are looking to get into a home before home loan borrowing tightens.

The average fixed interest rate on 30-year conforming loans had fallen from 6.37 percent on Nov. 17, 2005, to 6.10 percent by Jan. 19 this year, but began to turn up the following week when the average came in at 6.12 percent, according to Freddie Mac's Weekly Primary Mortgage Market Survey.

A week earlier, a real estate data crunching company's new index designed to help Californians choose less risky housing markets, said California lenders, fearing rising default risk levels, were more closely scrutinizing mortgage applications. That could make it tougher for already borderline borrowers to get a home loan or for existing homeowners to tap their equity.

During the last six months of 2005, risk levels for new mortgages statewide increased an average 28.6 percent in the Golden State, according to San Juan Capistrano-based HomeSmart Reports.

"The frenzy we saw in more coastal markets last year moved inland at the same time as interest rates were edging up. Some neighborhood sales patterns are showing signs of market stress, and buyers may be stretching their finances. Lenders are evaluating loan applications and appraisals much more carefully," said Mike Ela, HomeSmartReports.com president.

That's just what federal money market regulators want lenders to do. Twice last year, the Federal Reserve and other regulators encouraged lenders to curtail so-called "non-traditional" loans--interest-only; payment-option; piggy-back; no or low down payment; and adjustable rate mortgages in general--all high-leverage byproducts of escalating home prices and lenders looking to tap previously underserved markets.

"Lenders are great at managing their risk, and I think that lenders are being more vigilant on their own, but I suppose to some extent if they view regulators as coming down the pike, they are going to review any process that could be an influencing factor," said Ela.

As interest rates rise and more and more lenders pull the red carpet out from under buyers, loans will get more expensive and underwriting--the process of qualifying borrowers--will put the squeeze on borrowers, especially those who are already financially stretched.

The best way to deal with so much uncertainty in the mortgage market is the fast way. Here's how to speed up the loan application process:

* Be smart. Mortgage information resources are as vast as the number of mortgages available. Delve into some. Websites, topical newspaper articles, mortgage books, consumer seminars, workshops and counseling, financial planners, real estate agents, mortgage brokers and lenders are all available to assist you with insight on the home loan market.

* Be credit-worthy. Pull your credit report before applying for a loan.

* Be frugal. If you stretch financially, do so only within the scope of what you can truly afford. Determine how your mortgage payment will fit your current budget and, to some extent, your future obligations 15 to 30 years down the road.

* Be a comparison shopper. Shop mortgage lenders, brokers and online mortgage outlets to compare the best of all worlds. Compare all major loan costs, rates, points, broker fees and others to make an accurate comparison.

* Be prepared. When it's time to complete your mortgage application, have all your docs in a row. The application will ask for information about your job tenure, employment stability, income, assets (property, cars, bank accounts and investments) and liabilities (auto loans, installment loans, mortgages, credit card debt, household expenses, insurance and others). The sooner you have the documents required to back up statements on the application, the faster your application will proceed.

* Be focused. You've done your homework. Settle on one loan. Complete one application and see it through. Don't "double dip." Online applications make it easy to fire off several quick applications, but each one could trigger a credit check and a wrong signal. Lenders are more apt to reject applications that yield a credit report with numerous recent credit checks.

* Be sure to lock down the rate. During the loan application, get a rate lock in writing.

* Be committed. Don't behave like a retail shopper who fills out a credit application in the checkout line. Getting prequalified, even preapproved for a loan has been superseded by getting a real loan commitment. As rock-solid as the rate lock, a loan commitment guarantees you've got the loan. All you need to do is sign on the dotted line. When you go shopping for a home, the commitment tells the seller your offer is indeed worth a whole lot more than the paper it's printed on.

Real estate writer Broderick Perkins, executive editor of San Jose-based DeadlineNews.Com, writes regularly for this newspaper.