An Overview of the Mortgage Loan Process

No doubt, a lot involved when you get a mortgage. You wouldn't be here on our site if it were possible to complete a simple application and get the best loan funded in one day. 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.

There are four important steps involved in obtaining a mortgage loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. How much of a monthly payment can you afford? 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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 the rubber meets the road and Reliance Mortgage Service, Inc can really save you money. You will give us info about your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We get your permission to run your credit score and report. When we review all this information we will provide a letter of pre-qualification. 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 picking out the home that's right for you, we're busy finding the loan that's just right for your situation.

Step three: apply now! We make it easy

Once you've made an offer and it's been accepted, it's time to apply for the loan. Applying for your loan could not be much easier; you can apply right here on our site. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to designate an escrow/title company to handle the funding of your loan. We'll work with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at their officeWe coordinate with the title company to set your closing date. Because you will not have to coordinate this process, you can concentrate on moving, if you're going to repaint, new carpet, and all the details of moving into your new house.

You've answered some few questions, provided lots of information, applied , and Before you know it, you're moving in! We do the mortgage 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 562 320-0510. We answer questions about the loan process every day.

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