How the Mortgage Loan Process Works

There's a lot to do in oder to get a mortgage loan. You wouldn't be here on our site if it were possible to fill out a one-page loan app and get a great loan check cut 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 main steps involved in obtaining a mortgage loan.

Step one: Decide how much you can afford

This is a function of a couple things. What kind of monthly payment are you looking for? 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. 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: pre-qualify for your loan

This is where the process really begins and RTC Mortgage Corporation can really save you money. You will give us info about your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. 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. The pre-qual letter gives you buying clout! While you're deciding on the home that's right for you, we're busy finding the loan program that's right for your unique situation.

Step three: apply now! We make it easy

Once you have made an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan couldn't get much easier; 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 an escrow/title company to handle the "funding" and closing. We'll work with this company to make sure the papers your lender will need are in order, and you'll probably}likely sign all these papers at their officeWe work with with the title company on your date of closing. Because you don't have to worry about these details, you get to concentrate on moving logistics, paint colors, new carpet, and all the details of getting your new home.

You've answered a few questions, provided lots of information, applied online, and Before you know it, you'll be moving! RTC Mortgage Corporation is in the business of loans; you're not — so we do the work. Doesn't that make sense?

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