An Overview of the Mortgage Loan Process
There is little question that getting a mortgage loan is a complex process. You wouldn't be researching mortgage loans if you could get a mortgage loan in a single 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.
There are four primary steps involved in obtaining a loan.
Step one: Decide how much you can afford
A couple of factors determine this amount. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. 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: pre-qualify for your loan
This is where the rubber meets the road and Reliance Mortgage Service, Inc can really save you money. You will supply details on your employment, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. When we review this info we provide a pre-qualification letter. Handle it with care — it is a great tool for buying your new home! Your agent will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for your new house with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
After you've made an offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't be much easier; you can apply from the comfort of your home right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will coordinate to decide on a title company to take care of the funding of your loan once it has been approved. We'll work with this company to make sure all the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at their officeWe work with with this company on your date to close. Since you won't have to coordinate this process, you can concentrate on moving logistics, paint colors, carpet, and the fun parts of getting a new home.
You've answered some few questions, provided lots of information, applied , and Before you know it, you're moving in! We do the legwork so you can spend your time finding the new home that's right for you.
Have questions about the loan process? Call Reliance Mortgage Service, Inc at 5623200510. We answer questions about the loan process every day.