wHAT HAPPENS DURING THE LOAN?
Our goal at North Valley Mortgage is to minimize turbulence so that you you don't have to experience it. One of the ways we accomplish this is by collecting all of your Part of accomplishing this is setting up your loan in an organized and concise fashion in addition to managing your expectations.
Lenders can be picky, and you will have a more pleasant experience if you have a clear understanding of what happens while the loan is being approved by the lender. In addition, knowing what things the lenders are looking for helps, and we will certainly guide you through this process.
If you are buying a home, this process will start once your offer is accepted. If this is a refinance, the process will start once you decide to move forward with the loan.
I will already have your financial information by this point because that is something that I collect up front to determine the feasibility of the loan and or pre-qualification. As a result, I will only need you to sign the initial packet of disclosuresFirst I will create your initial packet of disclosures and send them to you for your signatures. This pack will include the loan application which we filled out for you along with some very important disclosures including the Good Faith Estimate, and Truth in Lending along with many others.
Once these papers are signed and returned back to us, we will compile your loan package in an order that the wholesale lender is comfortable with, and submit it. It usually takes a few days to get this compiled and sent off once your diclosure packet is received.
Lenders can be picky, and you will have a more pleasant experience if you have a clear understanding of what happens while the loan is being approved by the lender. In addition, knowing what things the lenders are looking for helps, and we will certainly guide you through this process.
If you are buying a home, this process will start once your offer is accepted. If this is a refinance, the process will start once you decide to move forward with the loan.
I will already have your financial information by this point because that is something that I collect up front to determine the feasibility of the loan and or pre-qualification. As a result, I will only need you to sign the initial packet of disclosuresFirst I will create your initial packet of disclosures and send them to you for your signatures. This pack will include the loan application which we filled out for you along with some very important disclosures including the Good Faith Estimate, and Truth in Lending along with many others.
Once these papers are signed and returned back to us, we will compile your loan package in an order that the wholesale lender is comfortable with, and submit it. It usually takes a few days to get this compiled and sent off once your diclosure packet is received.
