The Loan Process: an Overview
There is no doubt that getting a mortgage is a complicated process. You wouldn't be visiting our site if it were possible to complete a one-page mortgage application and receive the best 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.
Getting a home loan involves four major milestones.
Step one: determine how much you can borrow
A couple of factors determine this amount. What kind of monthly payment are you looking for? 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. 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 Norcal Capital Group, Inc can really save you money. You will provide details on your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we've reviewed your information, we'll provide you with a pre-qualificaiton letter. Your REALTOR® will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for a new home with your REALTOR™, we find the best program for you.
Once you have made an offer and it's been accepted, it's time to apply for the loan. Applying for your loan could not be much easier; you can apply any time right here on our site. At the end of this step, we'll order an appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to ensure all the papers your lender needs are avaiailable, and you'll probably}likely sign everything at their officeWe work with with the title company on your date of closing. Since you won't need to worry about these details, you get to concentrate on the move, paint colors, new carpet, and the details involved in moving into a new house.
You've answered a few questions, given us detailed information, applied online, and the next thing you know, you're deciding when to move in! Norcal Capital Group, Inc is a mortgage specialist; you're not — so we do the work. 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.