The Mortgage Loan Process: an Overview
Make no mistake, there's quite a lot involved in oder to get a mortgage loan. You wouldn't be researching mortgage loans if you could 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.
There are four important steps involved in obtaining a loan.
Step one: determine how much you can borrow
A couple of factors determine this amount. 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? You can get a good idea of your preferred payment abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: pre-qualify for your loan
This is where Norcal Capital Group, Inc can start saving you money. You will provide details on your current job, assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. After we have reviewed this information we will provide a pre-qualification letter. Your real estate agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for your new house with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
Once you have made the offer and it's been accepted, it's time to complete the loan application. It's very easy, and you can do it online, right here on our site. At the end of this step, we will order an appraisal of your new home.
Step four: your loan is funded
Your REALTOR® and the seller's will work together to find an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender requires are avaiailable, and you will probably}likely sign everything at this company's officeWe do all the work to work with with this company to set your closing date. Because you don't have to worry about these details, you can think about the move, if you're going to repaint, carpet, and the fun parts of getting a new home.
You've answered some few questions, given us detailed information, applied online, and the next thing you know, you're moving in! Norcal Capital Group, Inc is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Norcal Capital Group, Inc at 6507631924. It's our job to answer lending questions, so we're happy to help!