The Mortgage Loan Process: an Overview

There's little doubt ; getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day with 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: determine how much you can borrow

This is a function of a couple things. How much of a monthly payment can you afford? 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. We'll also help you through different scenarios by asking a few simple questions. 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 the rubber meets the road and Norcal Capital Group, Inc can really save you money. You will supply details on your employment, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. After we've finished reviewing this information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it is a great tool for buying your new home! Your real estate agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made an offer and the sellers have accepted, it's time to complete the loan application. Applying for a loan could not get much easier; you can apply online right here on our site. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will work together to decide on a title company to take care of the funding of your loan. We'll work with this company to make sure the papers your lender will require are in order, and you will probably}likely sign everything at their officeWe do all the work to coordinate with this company to set your date of closing. Since you will not need to worry with this coordination, you get to concentrate on moving, paint colors, new carpet, and all the details of getting your new house.

You've answered a few questions, provided detailed information, applied , and Before you know it, you're moving in! Norcal Capital Group, Inc is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Norcal Capital Group, Inc at 6507631924. We answer questions about the loan process every day.