The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
There's quite a lot to do when you get a mortgage. You wouldn't be looking up loan information if it were possible to get a loan in a single day by filling out a simple application. But RTC Mortgage Corporation does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four main steps involved in getting a mortgage loan.
Step one: determine how much you can borrow
This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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 RTC Mortgage Corporation will begin saving you money. You will give us information about your current job, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're deciding on the home that's right for you, we are looking for the best loan program for you.
Step three: apply now! We make it easy
Once you've made an offer and the sellers have accepted, you should complete the loan application. It couldn't be easier, and you can apply online, right here on our site. Finally, we'll order an appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure all the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at their officeWe work with with the title company to set your date to close. Because you won't have to worry about these details, you can think about moving logistics, painting, carpet, and the details involved in moving into a new home.
You've answered a few questions, provided detailed information, applied online, and before you know it, you're moving in! RTC Mortgage Corporation is in the business of mortgage loans; you're not — so we take care of the details. Doesn't that make sense?
Have questions about the loan process? Call RTC Mortgage Corporation at (949) 494-4701. RTC Mortgage Corporation answers loan process questions every day.