The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
Make no mistake, there's a lot involved when you get a mortgage loan. You wouldn't be here on our website if you could complete a simple loan app and receive a great 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 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? What is the maximum you can borrow from a lender, given your income and credit history? 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. 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 REDDISH BULL FINANCE, INC. | NMLS #1247892 will begin to save you money. You will supply info on your employment, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). We'll review all this info and provide a pre-qualification letter. Be careful with this letter — it can be a great tool when you make your offer! Your real estate agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for a new home with your agent, we find the best program for you.
After you've signed the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not be much easier; you can apply right here on our site. At the end of this step, we'll order the appraisal of your new home.
Step four: funding
The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender requires are in order, and you'll probably}likely sign all these papers at their officeWe work with with this company to set your date of closing. Because you will not need to worry about these details, you can concentrate on the move, if you're going to repaint, carpet, and the fun parts of moving into your new home.
You've answered a few questions, provided detailed information, applied online, and the next thing you know, you're moving in! REDDISH BULL FINANCE, INC. | NMLS #1247892 is in the business of mortgage loans; you're not — so we do the work. 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!