The Mortgage Loan Process: an Overview

There's quite a lot involved when you get a mortgage. You wouldn't be looking up loan information if it were possible to get a mortgage loan in a single day by filling out a simple application. But REDDISH BULL FINANCE, INC. | NMLS #1247892 does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in obtaining a loan.

Step one: determine how much you can borrow

A couple of factors determine this amount. What kind of monthly payment are you looking for? 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. We'll also help you through different scenarios by asking a few simple questions. 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 step is where REDDISH BULL FINANCE, INC. | NMLS #1247892 can begin saving you money. You will supply details on your employment, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We pull your credit score and report. After we've reviewed your information, we'll give you a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're picking out your new home, we are researching the loan that best fits your needs.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our website. Finally, we'll order an appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will work together to designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure the papers your lender will require are in order, and you'll probably}likely sign all these papers at their officeWe work with with this company to set your closing date. Because you don't need to worry with this coordination, you can concentrate on moving logistics, paint colors, carpet, and the details involved in getting your new house.

You've answered a few questions, provided lots of information, applied , and Before you know it, you'll be moving! REDDISH BULL FINANCE, INC. | NMLS #1247892 is in the business of mortgage loans; you're not — so take care of the details. Doesn't that make sense?

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.