The Mortgage Loan Process: an Overview

There's little doubt ; getting a mortgage is a complex process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single 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 mortgage loan involves four major steps.

Step one: determine how much you can borrow

A couple of factors determine this amount. 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. 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: pre-qualify for your loan

This is where Reliance Mortgage Service, Inc can start to save you money. You will give us info about your employment, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we've reviewed your information, we'll give you a pre-qualificaiton letter. 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 house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

After you've signed an offer and the sellers accept it, it's time to apply for the loan. Applying for a loan couldn't be much easier; you can apply any time right here on our site. After the offer has been accepted and you have applied for your loan, we will order a professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender will need are in order, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date to close. Since you won't have to worry with this coordination, you can concentrate on the move, if you're going to repaint, new carpet, and the details involved in moving into a new home.

You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving! Reliance Mortgage Service, Inc is in the business of loans; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Reliance Mortgage Service, Inc at 562 320-0510. It's our job to answer lending questions, so we're happy to help!

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