About the Loan Process
There's little doubt ; getting a mortgage loan is a complicated process. You would not be looking up loan information if it were possible to get a loan in a single day by filling out a simple application. We do 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 home loan involves four major milestones.
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? What is the maximum you can borrow from a lender, given your income and credit history? 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. 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: complete a pre-qualification
This step is where Norcal Capital Group, Inc can begin to save you money. You will supply details on your current job, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new home with your REALTOR™, we find the best program for you.
Once you have made an offer and it's been accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our website. At the end of this step, we will order an appraisal of your new home.
Step four: your loan is funded
The agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign everything at this company's officeWe coordinate with the title company on your date of closing. Because you won't have to worry about these details, you get to think about moving logistics, if you're going to repaint, new carpet, and the details involved in moving into your new house.
You've answered some few questions, given us lots of information, applied , and the next thing you know, you're deciding when to move in! We do the mortgage legwork so you can spend your time finding your new home.
Have questions about the loan process? Call Norcal Capital Group, Inc at (650) 689-5684. We answer questions about the loan process every day.