About the Mortgage Loan Process
There can be no question ; getting a mortgage loan is a complex process. You wouldn't be visiting our website if you could fill out a one-page loan application and get an excellent loan funded in one day. But RTC Mortgage Corporation does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in obtaining a 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? 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 rubber meets the road and RTC Mortgage Corporation can really save you money. You will provide info about your employment, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (with your permission. When we review all this info we give you a pre-qualification letter. Your REALTOR® will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're deciding on your new home, we are looking for the loan that best fits your needs.
Once you've made the offer and it's been accepted, you should apply for the loan. Applying for your loan could not be much easier; you can apply from the comfort of your home right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.
Step four: funding
The real estate agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure all the papers your lender will need are in order, and you'll probably}likely sign all these papers at their officeWe work with with this company to set your closing date. Because you will not need to coordinate this process, you can think about moving, if you're going to repaint, carpet, and the fun parts of moving into a new house.
You've answered some few questions, given us detailed information, applied online, and the next thing you know, you're moving in! We take care of all the loan details so you can spend your time finding the new home that's right for you.
Have questions about the loan process? Call RTC Mortgage Corporation at (949) 494-4701. It's our job to answer lending questions, so we're happy to help!