About the Loan Process
Make no mistake, there's quite a lot to do when you get a mortgage. You wouldn't be visiting our site if it were possible to complete a simple loan app and get the best loan funded in one day. We do most of 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 main 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? What is the maximum you can borrow from a lender, given your income and credit history? 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. 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 step is where RTC Mortgage Corporation will start saving you money. You will give us details about your current job, assets, and residence history. You'll provide your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. We'll review all this info and give you a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for a new home with your REALTOR™, we find the best program for you.
Once you have made an offer and the sellers have accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here on our website. Finally, we will order an appraisal of your new home.
Step four: funding
The real estate agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure all the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at this company's officeWe work with with the title company on your date to close. Because you don't need to worry about these details, you get to concentrate on the move, painting, carpet, and the fun parts of moving into a new home.
You've answered a few questions, provided lots of information, applied online, and Before you know it, you're moving! We take care of all the loan details so you can focus on finding the new home that's right for you.
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!