An Overview of the Loan Process
Looking for mortgage advice? We'll be glad to discuss our mortgage offerings! Give us a call at 916-989-6222. Want to get started? Apply Online Now
There's a lot to do when you get a mortgage loan. You would not be looking up loan information if you could get a loan in a single day by filling out a simple application. But Sierra View Financial Corp does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four main steps involved in obtaining a mortgage loan.
Step one: Decide how much you can afford
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 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: complete a pre-qualification
This is where the process really begins and Sierra View Financial Corp can really save you money. You will give us details about your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. After we have gone over all this info we will provide a letter of pre-qualification. Handle it with care — it is a useful tool when you make your offer! Your agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're picking out the home that's right for you, we are researching the best loan for you.
Step three: apply now! We make it easy
Once you have made an offer and it's been accepted, you should apply for the loan. Applying for your loan couldn't get much easier; you can apply any time right here on our site. After the offer has been accepted and you have submitted your loan application, we will order a professional appraisal on the home.
Step four: your loan is funded
The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to make sure all the papers your lender will need are in order, and you'll probably}likely sign all these papers at their officeWe coordinate with the title company on your date of closing. Because you won't have to coordinate this process, you can think about moving logistics, painting, new carpet, and all the details of getting your new home.
You've answered some few questions, given us detailed information, applied online, and before you know it, you're moving in! Sierra View Financial Corp 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 Sierra View Financial Corp at 916-989-6222. It's our job to answer lending questions, so we're happy to help!