The Mortgage Loan Process: an Overview

There's little doubt that getting a mortgage loan is a complex process. You wouldn't be here on our website if it were possible to complete a one-page loan application and get the best loan funded in one day. But REDDISH BULL FINANCE, INC. | NMLS #1247892 does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major steps.

Step one: determine how much you can borrow

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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 process really begins and REDDISH BULL FINANCE, INC. | NMLS #1247892 can really save you money. You will supply details on your current job, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We get your permission to run your credit score and report. We'll review this info and will give you a letter of pre-qualification. Handle it with care — it can be a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for a new home with your REALTOR™, we find the best program for you.

Step three: apply for your loan

After you've made an offer and the sellers accept it, it's time to apply for the loan. Applying for your loan couldn't get much easier; you can apply from the comfort of your home right here on our site. At the end of this step, we'll order an appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to find an escrow/title company to take care of the funding of your loan. We'll work with this company to make sure the papers your lender needs are in order, and you will probably}likely sign all these papers at their officeWe do all the work to work with with the title company on your closing date. Since you won't have to worry about these details, you can concentrate on the move, if you're going to repaint, new carpet, and the fun parts of getting a new house.

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

Have questions about the loan process? Call REDDISH BULL FINANCE, INC. | NMLS #1247892 at 561-475-2281. It's our job to answer lending questions, so we're happy to help!