The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps

There can be little question that getting a mortgage is a complex process. You would not be looking up loan information if you could 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.

There are four primary steps involved in obtaining a mortgage loan.

Step one: Decide on your maximum loan amount

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 Norcal Capital Group, Inc will begin saving you money. You will provide info on your employment, your assets, and residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. After we've finished reviewing the provided information, we'll provide you with a pre-qualificaiton letter. Handle it with care — it is a great tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're picking out your new home, we are finding the loan that best fits your needs.

Step three: apply now! We make it easy

Once you've made an offer and it's been accepted, you should apply for the loan. It's very easy, and you can do it online, right here on our site. Finally, we will 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 the papers your lender needs are in order, and you will probably}likely sign everything at their officeWe do all the work to work with with this company to set your closing date. Since you don't have to worry with this coordination, you get to think about moving logistics, if you're going to repaint, carpet, and the details involved in moving into your new home.

You've answered a few questions, given us detailed information, applied , and the next thing you know, you are deciding when to move in! We do the mortgage legwork so you can focus on 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.

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