About the Mortgage Loan Process
Shopping for a mortgage loan? Compare rates here and we'd be thrilled to talk about our mortgage offerings!
There's quite a lot to do when you get a mortgage loan. You wouldn't be here on our site if you could fill out a one-page loan app and get a great loan funded the same day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home and saving money.
Getting a mortgage loan involves four major steps.
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? You can get a good idea of your preferred payment amount using the calculators on our website. And we can guide you to the right loan amount and the loan 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.
This is where the process really begins and Pacific Coast Financial, LLC can really save you money. You will give us information about your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. We will go over all this info and provide a Pre-Approval letter. Your REALTOR® will use the Pre-Approval in order to make the best offer on the home you choose. Rest assured that when we issue your Pre-Approval, we will obtain Conditional Approval from our approved lenders. While you're picking out the home that's right for you, we are finding the loan program for you.
Once you have made an offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't get much easier; you can apply right here on our site. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the home.
Step four: Funding and Recording
Your REALTOR® and the seller's will work together to find a title and escrow company to handle the funding of your loan. We'll coordinate with this company to ensure the papers your lender will need are in order, and you'll most likely sign the final loan documents at their office. We can also arrange for complimentary mobile signing at your convenience. In general - here's the flowchart of escrow closing progress. We do all the work to work with with this company on your date to close. Because you don't need to coordinate this process, you can think about moving, painting, carpet, and all the details of moving into your new home.
You've answered some few questions, provided detailed information, applied online, and before you know it, you're deciding when to move in! Pacific Coast Financial, LLC is in the business of mortgage loans; you're not — so we take care of the details. Makes sense, doesn't it?
Download the CFPB Home Loan Toolkit.
Have questions about the loan process? Call Pacific Coast Financial, LLC at 206.393.0684. We answer questions about the loan process every day.