How the Mortgage Loan Process Works

There is little question ; getting a mortgage is a complicated process. You wouldn't be looking up loan information if it were possible to get a loan in one day by filling out a simple application. 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.

Getting a home loan involves four major milestones.

Step one: determine how much you can borrow

A couple of factors determine this amount. What kind of monthly payment are you looking for? 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. 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: complete a pre-qualification

This is where the rubber meets the road and you save the most money. You will provide 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 (only after you give your permission. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Your agent will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're picking out your new home, we are looking for the best loan for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our site. Finally, we will order the appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will work together to decide on an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure the papers your lender needs are avaiailable, and you will probably}likely sign everything at this company's officeWe work with with this company on your closing date. Since you don't have to worry about these details, you get to concentrate on moving logistics, if you're going to repaint, carpet, and all the details of getting a new home.

You've answered some few questions, given us detailed information, applied , and Before you know it, you're moving! Reliance Mortgage Service, Inc is in the business of mortgage loans; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Reliance Mortgage Service, Inc at 562 320-0510. We answer questions about the loan process every day.

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