The Loan Process: an Overview
There's quite a lot to do in oder to get a mortgage loan. You wouldn't be researching mortgage loans if it were possible to get a loan in a single day with a simple application. 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 steps.
Step one: Decide on your maximum loan amount
This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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 can begin to save you money. You will give us information on your employment, your assets, and residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. We will go over all this information and will provide a pre-qualification letter. Handle it with care — it is a useful tool for buying your new home! Your REALTOR® will use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're picking out the home that's right for you, we're busy finding the loan that's right for your unique situation.
Once you have made the offer and it's been 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 seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.
Step four: your loan is funded
Your REALTOR® and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll work with this company to ensure all the papers your lender will require are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company on your date to close. Because you will not need to coordinate this process, you can think about moving, painting, new carpet, and the fun parts of moving into a new house.
You've answered a few questions, given us detailed information, applied , and Before you know it, you'll be moving! We take care of all the loan details so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Norcal Capital Group, Inc at 6507631924. Norcal Capital Group, Inc answers loan process questions every day.