The Four Steps of the Loan Process:The Loan Process: Four Steps
There is little question that getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if it were possible to get a loan in a single day with 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 important steps involved in getting a mortgage 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? 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 process really begins and RTC Mortgage Corporation can really save you money. You will supply info about your employment, assets, and your residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. When we review all this information we give you a pre-qualification letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out your new home, we are finding the best loan program for you.
Once you have made the offer and the sellers have accepted, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our website. At the end of this step, we'll order an appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will coordinate to find a title company to take care of the funding of your loan. We'll work with this company to ensure all the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to work with with the title company on your date of closing. Since you don't need to worry with this coordination, you can concentrate on moving, paint colors, carpet, and all the details of getting your new house.
You've answered some few questions, given us detailed information, applied , and Before you know it, you'll be moving in! RTC Mortgage Corporation is a mortgage specialist; you're not — so take care of the details. 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.