The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps

Make no mistake, there's a lot involved when you get a mortgage. You wouldn't be here on our website if it were possible to complete a simple application and receive an excellent loan check cut in one day. But Real Property Finance 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 mortgage loan.

Step one: determine how much you can borrow

A couple of factors determine this amount. 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. 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 the rubber meets the road and Real Property Finance can really save you money. You will supply details on your current job, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). We'll review all this info and provide a pre-qualification letter. Handle it with care — it is a useful tool for buying your new home! Your real estate agent will likely use your 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 just right for you.

Step three: apply now! We make it easy

After you've signed 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 online right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order a professional appraisal on the home.

Step four: funding

The agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to ensure all the papers your lender requires are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with this company to set your date to close. Because you don't need to worry with this coordination, you get to concentrate on the move, if you're going to repaint, new carpet, and all the details of moving into a new house.

You've answered a few questions, provided detailed information, applied , and the next thing you know, you're moving in! Real Property Finance is a mortgage specialist; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Real Property Finance at 310-379-5997. We answer questions about the loan process every day.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question