An Overview of the Mortgage Loan Process

Shopping for a mortgage? We can help! Call us at 408.399.0103. Want to get started? Apply Now.

No doubt, a lot involved when you get a mortgage. You wouldn't be visiting our site if you could complete a one-page loan app and get the best loan funded the same day. 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.

There are four main steps involved in getting a loan.

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? Use the calculators on our website to determine your monthly payment amount. 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 process really begins and Victoria Capital Mortgage Company can really save you money. You will give us information about your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). After we've finished reviewing the provided information, we'll provide a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we're busy finding the loan that's just right for you.

Step three: apply for your loan

Once you have made an 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. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to find an escrow/title company to take care of the funding of your loan. We'll work with this company to make sure all the papers your lender will need are available, and you'll 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. Since you will not have to worry with this coordination, you get to concentrate on the move, if you're going to repaint, new carpet, and all the details of moving into your new home.

You've answered a few questions, given us detailed information, applied , and the next thing you know, you're deciding when to move in! We do the legwork so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Victoria Capital Mortgage Company at 408.399.0103. We answer questions about the loan process every day.