The Loan Process: an Overview

There can be little question that getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if you could get a mortgage loan in one 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 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. 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: complete a pre-qualification

This is where the rubber meets the road and REDDISH BULL FINANCE, INC. | NMLS #1247892 can really save you money. You will supply info about your current job, 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, of course). After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. Handle it with care — it can be a useful tool when you make your offer! Your agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're looking for your new house with your agent, we find the best program for you.

Step three: apply for your loan

After you've signed an offer and the sellers have accepted, you should apply for the loan. Applying for a loan couldn't be much easier; you can apply from the comfort of your home right here on our site. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to make sure all the papers your lender needs are in order, and you'll probably}likely sign everything at their officeWe do all the work to work with with this company to set your date of closing. Since you won't need to worry with this coordination, you get to think about moving, paint colors, new carpet, and the details involved in getting your new home.

You've answered a few questions, given us detailed information, applied , and Before you know it, you're moving! We take care of the mortgage legwork so you can spend your time finding the new home that's right for you.

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