How the Mortgage Loan Process Works

There's no question ; getting a mortgage is a complicated process. You would not be looking up loan information if it were possible to get a mortgage loan in a single day by filling out 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 important steps involved in getting a mortgage loan.

Step one: determine how much you can borrow

A couple of factors determine this amount. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 is where the rubber meets the road and REDDISH BULL FINANCE, INC. | NMLS #1247892 can really save you money. You will supply info on your employment, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we've reviewed this information, we'll give you a pre-qualificaiton letter. Handle it with care — it can be a great tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for your new house with your agent, we find the best program for you.

Step three: apply for your loan

Once you have made the offer and the sellers have accepted, you should complete the loan application. It's very easy, and you can do it online, right here on our site. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: funding

Your REALTOR® and the seller's will coordinate to find a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to ensure the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to work with with this company on your date of closing. Because you will not need to worry with this coordination, you get to concentrate on moving, painting, carpet, and all the details of getting a new home.

You've answered a few questions, given us detailed information, applied , and Before you know it, you're moving in! We take care of the loan details so you can focus on finding your new home.

Have questions about the loan process? Call REDDISH BULL FINANCE, INC. | NMLS #1247892 at 561-475-2281. REDDISH BULL FINANCE, INC. | NMLS #1247892 answers loan process questions every day.