How the Loan Process Works
There's a lot involved in oder to get a mortgage. You wouldn't be visiting our site if you could complete a one-page loan app and receive the best loan funded the same day. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a loan involves four major milestones.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.
Step two: pre-qualify for your loan
This is where the rubber meets the road and you save the most money. You will give us info about your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. After we have reviewed all this information we provide a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for your new house with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have signed the offer and the sellers have accepted, it's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will work together to find 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 all the papers your lender will need are in order, and you will probably}likely sign everything at their officeWe do all the work to work with with the title company on your date of closing. Since you will not need to worry about these details, you can concentrate on moving, if you're going to repaint, carpet, and the details involved in moving into your new house.
You've answered some few questions, provided detailed information, applied online, and the next thing you know, you're moving in! Norcal Capital Group, Inc is in the business of mortgage loans; you're not — so we do the work. Doesn't that sound nice?
Have questions about the loan process? Call Norcal Capital Group, Inc at 6507631924. We answer questions about the loan process every day.