The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
There's no doubt that getting a mortgage is a complex process. You wouldn't be visiting our website if you could fill out a one-page application and receive the best loan funded the same 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 primary steps involved in obtaining a loan.
Step one: Decide how much you can afford
This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment abount using the calculators on our website. 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: pre-qualify for your loan
This is where Norcal Capital Group, Inc will start to save you money. You will supply details on your current job, assets, and your residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. After we have gone over this info we will provide a pre-qualification letter. Your real estate agent should use the 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 deciding on the home that's right for you, we're busy researching the loan that's just right for your unique situation.
Step three: apply now! We make it easy
Once you have made an offer and the sellers accept it, you should apply for the loan. Applying for your loan couldn't get much easier; you can apply from the comfort of your home right here on our site. When the time is right, we'll order the appraisal of your new home.
Step four: funding
The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender will require are in order, and you'll probably}likely sign everything at their officeWe work with with the title company on your closing date. Because you won't have to worry about these details, you get to concentrate on the move, paint colors, new carpet, and the details involved in getting your new home.
You've answered a few questions, given us lots of information, applied , and the next thing you know, you're moving in! We do the mortgage legwork so you can spend your time finding the new home that's right for you.
Have questions about the loan process? Call Norcal Capital Group, Inc at (650) 689-5684. Norcal Capital Group, Inc answers loan process questions every day.