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

There is little question that getting a mortgage is a complex process. You wouldn't be looking up loan information if you could get a mortgage loan in one day by filling out a simple application. 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.

Getting a loan involves four major steps.

Step one: determine how much you can borrow

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. 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 you save the most money. You will give us information about your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We run your credit score and report. We'll go over all this info and provide a pre-qualification letter. Handle it with care — it is a useful tool for buying your new home! Your REALTOR® will likely 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 a new home with your REALTOR™, we find the best program 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. It couldn't be easier, and you can apply online, right here on our website. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" and closing. We'll coordinate with this company to make sure all the papers your lender needs are avaiailable, and you'll probably}likely sign everything at their officeWe coordinate with the title company on your date of closing. Because you will not need to coordinate this process, you can think about the move, painting, new carpet, and the fun parts of moving into a new home.

You've answered some few questions, provided detailed information, applied , and before you know it, you are deciding when to move in! Real Property Finance is in the business of loans; you're not — so we do the work. Doesn't that make sense?

Have questions about the loan process? Call Real Property Finance at 310-379-5997. It's our job to answer lending questions, so we're happy to help!

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