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

There's quite a lot to do when you get a mortgage. You wouldn't be here on our site if it were possible to complete a simple loan app and receive a great loan check cut 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.

There are four main steps involved in obtaining a mortgage loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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. 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 REDDISH BULL FINANCE, INC. | NMLS #1247892 will begin saving you money. You will give us info about your employment, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool when you make your offer! 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 your new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you've made an offer and it's been 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 seller has accepted your offer and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: funding

The real estate agents will find a title company to handle the "funding" and closing. We'll work with this company to make sure all the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with this company on your closing date. Since you don't have to worry with this coordination, you get to think about the move, painting, carpet, and the fun parts of moving into a new house.

You've answered some few questions, provided detailed information, applied online, and Before you know it, you'll be moving in! REDDISH BULL FINANCE, INC. | NMLS #1247892 is a mortgage specialist; you're not — so 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!