FAQs
We understand that you may have a lot of questions about the loan process in general and about Benchmark Lending Group. We hope that these Frequently Asked Questions will help. Please do not hesitate to call us at 800-680-4000 if you have more questions. Please click on a section below that is relevant to your needs.
About Us Click here if you have questions about Benchmark Lending Group.
Applying for a Loan Click here if you have questions about your loan application.
The Loan Process Click here if you have questions about what happens after your application is submitted.
Appraisals Click here if you have questions relating to the appraisal of your property.
Security Click here if you have questions about the security of our web site or your personal information.
Other Questions Click here for information about credit reports or how to contact us.
What makes Benchmark Lending Group different?
We pride ourselves on ensuring that the customer's experience during the loan process is as stress free and enjoyable as possible. We know what an involved process this can be, and as a result we go the extra mile to make the customer feel comfortable and informed every step of the way. Furthermore, we are flexible when it comes accommodating each and every individual according to their specific circumstances and needs with over 200 loan programs on offer. Back to Top
How long has Benchmark Lending Group been in business?
Benchmark Lending Group has been in business since 1995. In 1997, Benchmark Lending Group was incorporated as a mortgage lending bank. For more information, please visit our About Us page. Back to Top
Is Benchmark Lending Group a direct lender?
Yes! Benchmark Lending Group is a mortgage lending bank, which means that your loan is originated, underwritten and funded by Benchmark Lending Group. For more information, please visit our About Us page. Back to Top
How do I contact Benchmark Lending Group directly?
You can call 800-680-4000, 707-546-5626, email contact@benchmarklending.com, or visit our Contact Us page. Back to Top
Where is Benchmark Lending Group located?
Benchmark Lending Group is located in the beautiful Northern California wine country, about 60 miles North of San Francisco. Our address is 120 Stony Point Road, Suite 210, Santa Rosa, CA 95401. Back to Top
In which states does Benchmark Lending Group lend?
Benchmark Lending Group lends in a number of states across the nation. For specific information about your state, please visit our Disclosures Page. Back to Top
What is the difference between a mortgage lender and a mortgage broker?
A mortgage lending bank lends its own money and does its own underwriting. Everything from the initial phone call to the final funding is done in-house. A mortgage lender provides different loan programs and helps the borrower choose the program that is best for their particular situation. A mortgage broker serves only as an intermediary between the customer and the mortgage lending bank. Back to Top
Does Benchmark Lending Group have any job openings?
Yes! Please visit our careers page to see what opportunities are currently available. Back to Top
Is there any cost to apply?
No. Benchmark Lending Group does not charge an application fee. Back to Top
How quickly can I be pre-approved for a loan?
You can be pre-approved for a loan in as quickly as 45 minutes. Back to Top
Can I talk directly to a loan officer?
Of course! To speak directly to a loan officer, please call 800-680-4000 or 707-546-5626. Back to Top
Who should I contact once I have submitted my online application?
Once you have submitted an online application, it will be forwarded to one of our highly qualified loan officers who will contact you at the time you specified. If you would like to speak with a loan officer sooner, please call 800-680-4000 or 707-546-5626. Back to Top
What kind of information and documentation do I need to provide for my loan application?
The documentation required will vary depending on the loan program you choose. Please contact your loan officer for more information. The guidelines below should give you a general idea of what you may need to provide.
For a Full Documentation Loan: You will need to provide year-to-date pay stubs for the last month, your W2s for the last two years, a copy of the most recent two months' statements of assets. If you receive commission pay or are self-employed, please be prepared to provide the most current two years' Federal Tax Returns. If you are refinancing, please provide a copy of your current homeowner's insurance information.
For a Stated Income Loan: You will need to provide a copy of the most recent two months' statements of assets. If you are self employed, you will need to provide a copy of your business licenses for the last two years, and/or a letter from your CPA certifying a two-year history of self-employment. Back to Top
What do I do if I have trouble filling out my application?
If you are having trouble filling out an application, please call 800-680-4000 or 707-546-5626. One of our highly qualified loan officers will be happy to help you. Back to Top
Can I apply for a purchase loan before I find a property?
Yes. You can be pre-approved or pre-qualified for a home purchase loan before you find a property. Getting pre-approved or pre-qualified will help you shop for properties within your price range, and will give you leverage with the seller when you find a property you would like to purchase. Back to Top
Can I get a loan if I don't have much cash for a down payment?
Yes. Benchmark Lending Group has several loan programs that are designed for borrowers who may have little or no cash available for a down payment. Please call one of our highly qualified loan officers to get program specifics at 800-680-4000 or 707-546-5626. Back to Top
What are Benchmark Lending Group's fees?
For first mortgage loans, Benchmark Lending Group's in-house fees include the processing fee; document preparation fee; lender fee; and credit report fee, they can vary from a flat fee of $495 to $1,825 depending on the loan program that you choose. Third-party fees, such as appraisal, notary and title and escrow fees will vary depending on loan amount and property value. Please ask your loan officer for more details. Back to Top
What is the difference between interest rate and APR?
The interest rate is the percent charged by the lender for the use of the money borrowed and is the number used to calculate a borrower's monthly payment. An APR is the annualized percentage rate. The APR is a calculation of the interest rate and the total finance charges (including fees, closing costs, points, etc.) The APR can be used by prospective borrowers as an easy comparison of different lenders' costs plus interest rate. Back to Top
How long does the entire loan process take?
The average loan process takes three to four weeks from application to funding. In some special circumstances, it may take as little as five days. Back to Top
Do I have to meet in person with my loan officer?
No. Our loans are handled via telephone, email and fax. We typically send a notary to your home or other convenient location for your signing appointment. Back to Top
How and when should I lock my rate?
The appropriate time to lock a rate varies depending on a variety of factors including loan type, market trends and borrowers' needs. Your loan officer will analyze your specific situation and advise you accordingly. Back to Top
What should I do to prepare for my signing appointment?
Please make an appointment with your notary. For each signing party, have two photocopies each of two forms of photo identification, such as a driver's license or passport. Back to Top
When do I get my money?
Your money will be sent to you from the title/escrow agency two to three days after your loan is funded by Benchmark Lending Group. Please specify if you prefer your money to be wired to your account or sent via registered mail. Back to Top
Does my property have to be appraised?
A property evaluation report is required for all loan programs. The cost and extent of the property inspection will vary depending on the loan program, property value, loan amount and property type. Please ask your loan officer about appraisal requirements for your loan and call 800-680-4000 or 707-546-5626. Back to Top
How do I order an appraisal?
Don't worry! Your loan officer will order the appraisal for you. All you need to do is schedule an appointment with the appraiser. Back to Top
Can I get a copy of my appraisal?
Yes! After your loan is closed, we will send you a full-color copy of your appraisal. Back to Top
What kind of security does the Benchmark Lending Group website have?
Benchmark Lending places the highest priority on the privacy of customer information.
All personal information that is provided on this site is secured using SSL with a certificate provided by Verisign, the leader in providing secure transaction on the Web.
In addition, we maintain physical, electronic, and procedural safeguards to maintain the confidentiality, security, and integrity of visitors' personally identifiable information.
We allow access to personally identifiable information only to persons and entities engaging in activities permitted by this privacy policy.
Benchmark Lending will not share this information with any third-parties unless specifically authorized by our customers. Back to Top
Will Benchmark Lending Group sell or share my information?
No. Benchmark Lending Group does not sell or share any borrower's information with any third parties that are not directly involved with processing your loan (i.e. appraiser and title/escrow agency). However, you may receive periodic communications from Benchmark Lending Group after your loan is closed. Back to Top
Can I get a copy of my credit report through Benchmark Lending Group?
No. Due to privacy issues and regulations, we cannot provide you with a copy of your credit report. If you would like a copy of your credit report, please contact one of the following credit bureaus:
Equifax
www.equifax.com
Experian
www.experian.com
TransUnion
www.transunion.com Back to Top
How can I get more information?
Please call 800-680-4000 or email contact@benchmarklending.com. We will be happy to answer any of your questions. Back to Top
Who can answer questions about my existing BLG home loan?
Please contact your loan officer by calling 800-680-4000 or 707-546-5626.
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Benchmark Lending Group, Inc. is an Equal Housing Lender. 