Home Loans: Getting Started

Mortgages are designed to meet specific situations like home purchase loans, refinances, first-time home buyer loans, construction loans, etc. Each category has its own requirements.

So the first question we ask is, "what do you want to do?" We always start with a friendly conversation about your goals and needs. That helps us to find you the perfect financing for your home!

All of our Mortgage Consultants are experienced professionals who understand the home loan industry. We're all happy to help you in any way we can.

	Judy Bickell Napa Branch Manager 707-252-5972 NMLS # 251412   email Judy		Bernie Peacock Sr. Mortgage Consultant 707-252-5971 NMLS # 279091 email Bernie
	Jenny Clough Mortgage Consultant 707-307-1321 NMLS # 295841 email Jenny		Robin Short Mortgage Consultant 707-307-1320 NMLS # 299468 email Robin
	Tom Gore Sr. Mortgage Consultant 707-307-1356 NMLS # 251409 email Tom

Loan programs that fit Napa properties...

• For home purchases: FHA and VA-backed loans--yes, these do work in Napa county (within the loan limits).  Especially now, with home prices more affordable than ever.
• Conventional financing for purchase--you will need to prove income and credit, but rates are great.
• Certain adjustable loan programs, especially the 5-1 ARM. We scrutinize the loan programs carefully to make sure you won't have any unwelcome surprises at the adjustment time.  We also review these in-depth with you, so you know up front what to expect.
• 30, 20, and 15-year terms let you determine which combination of interest rate, costs and repayment periods suit you best.

Useful Finance Links

• With all the bad news about the economy, can people actually qualify for loans?
  • Yes, you can qualify --but it's a bit tougher. Read this article which recently appeared in the San Francisco Chronicle about Qualifying for a home loan
  
  
• Websites where you can find financial information:
  • Mortgage 101 --Site with lots of articles about home loans and useful links
  • MyFico.com - Consumer site from the company that started automated "credit scores"
  • bankrate.com - For a broad picture of what the financial loan market is doing
    (good for credit card info as well as some mortgage information)
  • ConsumerAffairs.com - Scam alerts and general information about financing

How the loan process works

1. Start the process with a phone call to Judy or Bernie:
   1. We can do the initial consultation in person or over the phone,
      whichever is more convenient for you.
   2. We can even take the beginning application over the phone!
   3. Want to discuss loan types and which would work for you? We're happy
      to cover these with you.
2. Gather the materials needed...
   1. Virtually all new loans these days are "full documentation", meaning that you will
      have to provide copies of pay stubs, bank statements, etc.  We'll let you know
      which ones are needed for your loan.
   2. We will review your credit report with you and assist you to resolve any issues
      that might slow down the loan process.
   3. Based on the specifics of your situation, we may check with several lenders
      to find the product that fits you best.
   4. We will assemble and submit a complete loan application package.
3. The lender reviews and processes...
   1. They check the application for completeness
      Here's where our extensive experience helps smooth the way for an easy transaction.
      We know what's needed, and we provide it early in the process, so the lender doesn't
      have to wait.
   2. They review the application and make a decision
      In "lender-speak", this is called "underwriting".  It is a review of your past credit actions, the likelihood that you will be able to repay this loan, and whether the
      property would qualify for this kind of mortgage.
   3. Once approved, the lender notifies us
      If there are any conditions they want fulfilled before they fund the loan, the lender
      will alert us to these.  
   4. Processing is completed, you sign.
      It usually does not take very long after the underwriting and approval has been done.
      We will help arrange the signing appointment and review the loan documents with you.
      Usually your signing will be done at a title company.
   5. The lender funds the loan, documents are recorded, loan is done!