The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
There's little question that getting a mortgage loan is a complicated process. You wouldn't be here on our website if you could fill out a one-page application and get a great loan funded the same day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a mortgage loan involves four major milestones.
Step one: Decide on your maximum loan amount
This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: complete a pre-qualification
This is where the process really begins and REDDISH BULL FINANCE, INC. | NMLS #1247892 can really save you money. You will give us info about your employment, your assets, and residence history. You'll give us your employment, asset, and residence history information. We run your credit score and report. When we review all this information we will provide a pre-qualification letter. Be careful with this letter — it can be a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for a new house with your real estate agent, we find the best program for you.
Once you have signed an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan couldn't get much easier; you can apply right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order a professional appraisal on the home.
Step four: your loan is funded
Your REALTOR® and the seller's will coordinate to decide on a title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to ensure the papers your lender will require are in order, and you will probably}likely sign everything at their officeWe do all the work to work with with the title company to set your closing date. Because you will not need to coordinate this process, you get to think about the move, paint colors, carpet, and the fun parts of getting your new house.
You've answered some few questions, given us detailed information, applied online, and before you know it, you are deciding when to move in! REDDISH BULL FINANCE, INC. | NMLS #1247892 is a mortgage specialist; you're not — so we 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. It's our job to answer lending questions, so we're happy to help!