An Overview of the Loan Process
There's a lot involved when you get a mortgage. You wouldn't be visiting our website if it were possible to complete a simple loan app and receive an excellent loan funded in one 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 primary steps involved in obtaining 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. 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 information on your current job, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). We will review this information then give you a pre-qualification letter. Be careful with this letter — it is a useful tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for a new home with your real estate agent, we find the best program for you.
After you've made an offer and the sellers accept it, it's time to apply for the loan. Applying for your loan couldn't be much easier; you can apply from the comfort of your home right here on our site. At the end of this step, 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 of the sale. We'll coordinate with this company to ensure the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with the title company to set your date to close. Since you will not need to worry with this coordination, you can think about moving, painting, new carpet, and the fun parts of moving into your new house.
You've answered some few questions, given us detailed information, applied online, and Before you know it, you're moving in! RTC Mortgage Corporation is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??
Have questions about the loan process? Call RTC Mortgage Corporation at 9494944701. It's our job to answer lending questions, so we're happy to help!