How the Loan Process Works
No doubt, a lot to do in oder to get a mortgage loan. You wouldn't be here on our website if it were possible to fill out a one-page loan app and receive a great loan check cut the same 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 getting a mortgage loan.
Step one: Decide on your maximum loan amount
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: complete a pre-qualification
This is where the rubber meets the road and Real Property Finance can really save you money. You will supply info on your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We pull your credit score and report. After we've finished reviewing the provided information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool for buying your new home! Your real estate agent will use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for your new home with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
Once you've made an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our site. After the offer has been accepted 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" and closing of the sale. We'll work with this company to ensure the papers your lender will require are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with this company on your date to close. Because you won't need to coordinate this process, you can think about moving logistics, paint colors, carpet, and all the details of getting a new home.
You've answered a few questions, given us lots of information, applied online, and Before you know it, you'll be moving! We take care of the mortgage legwork so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Real Property Finance at 310-379-5997. We answer questions about the loan process every day.