The Mortgage Loan Process: an Overview

There's a lot to do in oder to get a mortgage loan. You wouldn't be visiting our site if you could complete a simple loan app and get a great loan check cut the same day. But RTC Mortgage Corporation does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major milestones.

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? You can get a good idea of your preferred payment abount using the calculators on our website. 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: pre-qualify for your loan

This is where the rubber meets the road and RTC Mortgage Corporation can really save you money. You will supply info on your employment, 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 (only after you give your permission, of course). We'll go over this info then will provide a pre-qualification letter. 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 deciding on your new home, we're busy researching the loan program that's right for your situation.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers have accepted, you should apply for the loan. Applying for your loan couldn't get much easier; you can apply any time right here on our site. At the end of this step, we will order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will coordinate to decide on a title company to take care of the funding of your loan. We'll work with this company to ensure the papers your lender will need are in order, and you'll probably}likely sign everything at their officeWe do all the work to coordinate with the title company to set your closing date. Because you won't have to worry with this coordination, you get to think about the move, if you're going to repaint, new carpet, and the details involved in getting your new home.

You've answered some few questions, provided detailed information, applied , 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 your new home.

Have questions about the loan process? Call RTC Mortgage Corporation at 9494944701. RTC Mortgage Corporation answers loan process questions every day.