How the Loan Process Works
There's quite a lot to do in oder to get a mortgage. You would not be looking up loan information if it were possible to get a loan in one day by filling out a simple application. But Reliance Mortgage Service, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major milestones.
Step one: Decide on your maximum loan amount
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. 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 Reliance Mortgage Service, Inc will start to save you money. You will give us information on your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. After we've finished reviewing your information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for your new home with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
After you've signed the offer and the sellers accept it, you should apply for the loan. It's very easy, and you can do it online, right here on our website. When the time is right, we'll order the appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to decide on a title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender needs are in order, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company to set your closing date. Because you won't need to worry about these details, you get to concentrate on moving, painting, new carpet, and all the details of moving into a new house.
You've answered some few questions, given us detailed information, applied , and Before you know it, you're moving! Reliance Mortgage Service, Inc is a mortgage specialist; 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. It's our job to answer lending questions, so we're happy to help!