The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
There is little question that getting a mortgage loan is a complex process. You would not 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.
Getting a mortgage loan involves four major steps.
Step one: Decide how much you can afford
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? 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: complete a pre-qualification
This step is where Norcal Capital Group, Inc will start saving you money. You will give us info about your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new home with your REALTOR™, we find the best program for you.
Once you have made an offer and the sellers have accepted, you should complete the loan application. It couldn't be easier, and you can apply online, right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.
Step four: funding
The real estate agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work 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 this company on your date to close. Because you don't need to worry about these details, you get to think about moving logistics, if you're going to repaint, carpet, and the details involved in getting your new house.
You've answered some few questions, provided detailed information, applied online, and before you know it, you are deciding when to move in! Norcal Capital Group, Inc is in the business of loans; you're not — so we do the work. Makes sense, doesn't it??
Have questions about the loan process? Call Norcal Capital Group, Inc at 6507631924. Norcal Capital Group, Inc answers loan process questions every day.