The Mortgage Loan Process: an Overview

There's little question that getting a mortgage loan is a complex process. You wouldn't be visiting our website if you could complete a simple application and receive the best loan funded the same day. But Reliance Mortgage Service, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major steps.

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? 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: complete a pre-qualification

This is where Reliance Mortgage Service, Inc will start to save you money. You will give us info about your employment, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we've reviewed your information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it is a useful tool when you make your offer! Your real estate agent should use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're picking out the home that's right for you, we're busy researching the loan program that's right for your situation.

Step three: apply now! We make it easy

After you've made an offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our site. Finally, we will order an appraisal of your new home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe work with with this company on your date of closing. Since you will not need to worry about these details, you can concentrate on the move, painting, new carpet, and all the details of getting your new house.

You've answered a few questions, provided detailed information, applied online, and before you know it, you're deciding when to move in! Reliance Mortgage Service, Inc is in the business of mortgage loans; you're not — so we do the work. Doesn't that sound nice?

Have questions about the loan process? Call Reliance Mortgage Service, Inc at 5623200510. Reliance Mortgage Service, Inc answers loan process questions every day.