The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps

There can be no question ; getting a mortgage loan is a complicated process. You would not be looking up loan information if you could get a mortgage loan in one day with 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.

Getting a loan involves four major steps.

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. 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 give us info on your employment, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we have gone over this information we will give you a pre-qualification letter. Handle it with care — it is a great tool for buying your new home! Your agent will likely use the 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 shopping for your new house with your real estate agent, we find the best program for you.

Step three: apply for your loan

After you've signed an offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: funding

Your real estate agent and the seller's will work together to designate an escrow/title company to handle the funding of your loan. We'll work with this company to make sure the papers your lender requires are in order, and you will probably}likely sign everything at this company's officeWe coordinate with the title company on your date to close. Since you don't need to coordinate this process, you get to concentrate on the move, paint colors, carpet, and all the details of getting a new home.

You've answered some few questions, given us detailed information, applied online, and Before you know it, you're moving! We take care of the legwork so you can spend your time 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.