An Overview of the Loan Process

There can be little doubt ; getting a mortgage is a complex process. You would not be looking up loan information if it were possible to get a mortgage loan in a single day with a simple application. 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 primary 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? You can get a good idea of your preferred payment amount using the 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.

Step two: Pre-qualify for your loan

This step is where Diversified Capital Funding can start to save you money. You will supply info on your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. After we've finished reviewing the provided information, we'll give you 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 the home that's right for you, we're busy finding the loan that's just right for your situation.

Step three: Apply for your loan

Once you have signed the offer and the sellers have accepted, you should apply for the loan. Applying for a loan couldn't be much easier; you can apply online right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: Your loan is funded

The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure the papers your lender will need are in order, and you will sign all these papers at their office. We coordinate with this company on your date to close. Since you won't need to coordinate this process, you can concentrate on moving, painting, carpet, and all the details of moving into a new home.

You've answered a few questions, given us lots of information, applied, and before you know it, you'll be moving! Diversified Capital Funding is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Diversified Capital Funding at (925) 226-7130 or (209) 833-3338. It's our job to answer lending questions, so we're happy to help!