Process
Creating a World-Class Home Loan Experience
The Gaylord-Hansen Mortgage Team aims to change the perception that getting home loans in San Diego can be painful, frustrating and difficult. Paired with our genuine care for our clients, our process ensures we provide a world-class experience every time. The home loan process is made up of 4 important parts: Data Collection, Pre-Approval, Processing, and Closing. Our team knows the importance of each part, so we aspire to give a world class experience in each part of your home loan.
We know that you’re a family, not a file, and will treat you with the care you deserve. We’re not just your mortgage originator; we’re your ally as you make one of the most important decisions of your life. We know that your home represents a significant part of your financial portfolio and serves as the canvas for years of memories with your family. That’s why we take your mortgage process so seriously.
We believe that you deserve access to the best home loans in San Diego and the surrounding area. We’ll work hard to give you options that fit your unique situation, and your exact budget.
Through our unique, streamlined mortgage process, we can take the headache and guesswork out of getting the financing you need. We’ll be with you every step of the way – from collecting the first pieces of data to signing the last piece of closing paperwork.
Get the Loan That’s Right for You
Jumbo
loanDepot offers consistent and secure low rate Jumbo mortgage programs with the ability to borrow higher amounts
Adjustable Rate
If you plan on staying in your home short-term or would like lower payments, an ARM loan program might be right for you
Fixed Rate
A traditional, fixed-rate mortgage is our most popular program for refinancing or a new home purchase
Personal Loans
loanDepot offers unsecured personal loans up to $35,000 to consolidate debt or make a major purchase
VA
loanDepot is authorized to offer special loan programs that are guaranteed by the VA for active military and veterans that are not available to the general public
FHA
Qualify with ease with as little as 3.5% down; originally for first-time buyers, FHA programs are now open to wider audiences
Home Equity
Home equity loans are fixed-rate second mortgages that give you access to up to 90% loan-to-value of the equity you’ve built in your home
Unsecured Personal Loans are issued by Cross River Bank; a New Jersey State Chartered Commercial Bank, Member FDIC. Individuals must be a U.S. citizen or permanent resident and at least 18 years old to apply for credit from Cross River Bank. Valid bank account and Social Security Number/FEIN are required. All loan applications are subject to credit review and approval. All loans may be subject to an origination fee of 1% to 5% of the loan amount. Origination fees are deducted from loan proceeds. Offered loan terms depend upon credit score, requested amount, requested loan term, and credit usage and history. Loans are not available to residents of West Virginia. Residents of Alabama or Nebraska must be 19 years old to apply for credit. All loans in Massachusetts will be greater than equal to $6,001. All loans to Ohio residents must be greater than $5,001. All loans to Connecticut residents must qualify for an annual percentage rate (APR) of less than 12% to be considered for approval. All loans to New Hampshire residents less than or equal to $10,000 must qualify for an annual percentage rate (APR) of 10% or less to be considered for approval. All loans to New York residents must qualify for an annual percentage rate (APR) of less than 16% to be considered for approval. All loans to Vermont residents must qualify for an annual percentage rate (APR) of less than 12% to be considered for approval.
Frequently Asked Questions
What is a contingency removal date?
How do mortgage credit inquiries affect your credit?
What is an appraisal and why is it needed?
What are supplemental taxes?
Why do I need to provide so much documentation to obtain a home loan?
What is an impound account?
Property taxes and insurance premiums can adjust from year to year. How does the lender determine the correct premiums to pay?
Impounds are required on FHA loans, VA loans, and USDA loans. For conventional loans, impounds are generally required if less than 20% is put down (10% in CA). If you initially set up an escrow account, you may be able to get it removed later down the line by contacting your service provider.
What are the advantages and disadvantages to establishing an impound account?
Advantage(s):
Through the collection of these housing expenses gradually throughout the year, this helps avoid the sticker shock when these sometime large and infrequent (typically once or twice a year) bills become due. Assurance money to pay those bills will be there when the bill(s) come due. Your mortgage servicer will manage this account and pay the bills on your behalf.
Disdvantage(s):
Unable to collect interest on money held in the impound account. Decrease the amount of money you can put in an emergency fund since the lender keeps a little extra in your impound account, in order to ensure the extra cushion needed in order to keep making the insurance and tax payments if you stop making your monthly mortgage payments. If you have the option of “waiving” impounds, you will typically pay a fee of .125% of the loan amount at closing or opt to take a slightly higher mortgage rate.
What is the difference between APR and interest rate?
How long does it take to get the unused funds in the impound account once a loan is paid off?
What does it mean to get pre-approved?
Being pre-approved is sometimes confused with pre-qualified. Receiving pre-qualified is for informational purposes only. This doesn’t mean that the bank will loan you that amount, but just gives you an idea of how much you can borrower.
