About the Loan Process
There is little question ; getting a mortgage is a complex process. You wouldn't be here on our site if it were possible to fill out a simple loan application and receive a great loan check cut 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 home loan involves four major steps.
Step one: Decide on your maximum loan amount
This is a function of a couple things. 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. 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: complete a pre-qualification
This is where the rubber meets the road and you save the most money. You will supply info about your employment, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will 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 can be a great tool for buying your new home! Your REALTOR® will use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're deciding on your new home, we're busy researching the loan that's right for you.
Step three: apply now! We make it easy
Once you've made an offer and it's been accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order a professional appraisal on the home.
Step four: funding
The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure the papers your lender will need are avaiailable, and you'll probably}likely sign everything at their officeWe do all the work to coordinate with the title company on your closing date. Since you won't need to worry about these details, you get to think about moving logistics, paint colors, carpet, and all the details of getting a new home.
You've answered some few questions, given us lots of information, applied , and Before you know it, you'll be moving in! Reliance Mortgage Service, Inc is in the business of 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 562 320-0510. We answer questions about the loan process every day.