Santa Rosa Mortgages Company insists on filing the relevant application form by every individual before applying for mortgage loan. The application form contains name of the applicant, address, income of the individuals, loan amount applied for etc. and the bank representative will cross check the form and submits to higher authorities for sanction. The legal documents of the property have to be furnished to the banks so as to verify the owner of the property and also to identify whether the individual has enough right in the said property applied for mortgage loan. After all formalities are over, the bank official will pass on the letter of sanction to the individual by mentioning the amount of loan sanctioned, period of loan, rate of interest etc. in the letter so as to facilitate the person to submit the relevant processing fee for getting the loan payment. The loan payment will be remitted through cheque in favour of the applicant so that he can use them wisely to pay off its dues or some urgent commitment in the course of regular activities. The rate of interest applicable on the first time home buyers sonoma county is governed by be basic lending rate prevailing in the particular country and if there is any increasing basic prime lending rate then the rate of interest will be increased posing an additional burden to the individual. The mortgage loan ensures that the every individual is satisfied with the quantum of loan sanctioned with attractive rate of interest so that they can able to pay off their liabilities immediately. The monthly installment will be more if the loan period is very short and monthly installment will be less if the period of loan is very lengthy. The santa rosa mortgages Company appoints various representatives to check the documents pertaining to sanction of mortgage loan.