The Four Steps of the Loan Process:The Loan Process: Four Steps
There's a lot to do in oder to get a mortgage loan. You would not be looking up loan information if it were possible to get a loan in a single day by filling out a simple application. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a loan involves four major milestones.
Step one: Decide how much you can afford
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? 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. 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 to save you money. You will provide details on your current job, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). We'll go over this info and provide a pre-qualification letter. With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new home with your real estate agent, 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. Applying for your loan could not be much easier; you can apply from the comfort of your home right here on our site. When the time is right, we will order the appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure all the papers your lender needs are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to work with with the title company on your date to close. Because you won't need to coordinate this process, you can concentrate on moving, painting, new carpet, and the details involved in moving into a new house.
You've answered a few questions, provided detailed information, applied , and Before you know it, you're moving in! We take care of 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. It's our job to answer lending questions, so we're happy to help!