The Loan Process: an Overview

Make no mistake, there's a lot to do when you get a mortgage. You wouldn't be researching mortgage loans if you could get a loan in a single day by filling out a simple application. We do 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 main steps involved in obtaining a mortgage loan.

Step one: determine how much you can borrow

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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. 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: pre-qualify for your loan

This step is where REDDISH BULL FINANCE, INC. | NMLS #1247892 will start to save you money. You will give us information about your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. We'll go over this info and give you a letter of pre-qualification. Handle it with care — it is a useful tool when you make your offer! Your real estate agent 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 your new home with your agent, we find the best program for you.

Step three: apply for your loan

Once you have made the offer and it's been accepted, it's time to complete the loan application. Applying for a loan couldn't be much easier; you can apply any time right here on our site. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: funding

Your real estate agent and the seller's will coordinate to find a title company to take care of the funding of your loan once it has been approved. We'll work with this company to ensure all the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at their officeWe do all the work to work with with this company to set your closing date. Since you don't need to coordinate this process, you can concentrate on the move, painting, carpet, and the fun parts of getting your new house.

You've answered some few questions, provided detailed information, applied online, and the next thing you know, you are moving in! REDDISH BULL FINANCE, INC. | NMLS #1247892 is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call REDDISH BULL FINANCE, INC. | NMLS #1247892 at 561-475-2281. REDDISH BULL FINANCE, INC. | NMLS #1247892 answers loan process questions every day.