The Loan Process: an Overview
No doubt, a lot involved when you get a mortgage. You wouldn't be visiting our website if it were possible to complete a one-page loan application and receive an excellent loan funded in one day. But Norcal Capital Group, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in getting a mortgage loan.
Step one: determine how much you can borrow
This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: complete a pre-qualification
This is where the process really begins and Norcal Capital Group, Inc can really save you money. You will supply information about your current job, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. After we have gone over this information we provide a pre-qualification letter. Your agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home, we are researching the best loan for you.
Step three: apply now! We make it easy
Once you have made the offer and it's been accepted, it's time to complete the loan application. Applying for your loan could not get much easier; you can apply any time right here on our site. When the time is right, we will order the appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to designate an escrow/title company to handle the funding of your loan once it has been approved. We'll work with this company to make sure the papers your lender will require are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with this company to set your date to close. Since you will not need to coordinate this process, you get to concentrate on moving, paint colors, carpet, and the details involved in getting your new house.
You've answered some few questions, provided lots of information, applied online, and Before you know it, you'll be moving! Norcal Capital Group, Inc is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Norcal Capital Group, Inc at (650) 689-5684. We answer questions about the loan process every day.