Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is do most of the heavy lifting for you, so you can concentrate on what's important -- preparing to move into your w home, saving money, or making plans for your home equity check.
There are four main steps involved in getting a loan. You'll see that we've made your part in them as easy as possible, and we do all the work! That's what we're here for.
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? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? The first part you can get a rough idea of by using the mortgage calculators on our website.
We'll also help you through different scenarios by asking a few simple questions. 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. Your loan professional will 'tighten up' those numbers when asking more precise information of you.
Step two: pre-qualify for your loan
This is where the rubber meets the road and you save the most money. You supply information about your employment, your assets, your residence history, and so on. We get your permission to run your mortgage credit report and credit score.
When we review all this information we give you a Pre-Approval Letter. Handle it with care -- to a home seller, it's like a suitcase full of cash! Your realty agent will use your Pre-Approval letter to make the best offer on the home you choose, and the seller knows you're as good as gold. It gives you buying clout and room for negotiation! And while you're picking out the home that's right for you, we're busy finding the loan that's right for you.
Step three: apply now! We make it easy
Once you've made an offer and it's been accepted, it's time to complete the loan application if you have not already gotten pre-approved. It couldn't be easier, and you can do it online, right here at our website. 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 agent will work together to designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office.
You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're moving in! We're in the business of mortgage loans, you're not -- so we do most of the work. Doesn't that make sense?
Clarion Mortgage Capital 12526 High Bluff Drive Suite 106 San Diego, CA 92130
