The Mortgage Loan Process: an Overview

Are you looking for a mortgage loan? We will be glad to help! Give us a call today at (916) 597-2858. Ready to begin? Apply Now.

Make no mistake, there's quite a lot to do when you get a mortgage. You wouldn't be here on our site if you could fill out a simple loan application and receive the best loan check cut in one day. But R&R Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in getting a loan.

Step one: Decide how much you can afford

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 amount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. 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: pre-qualify for your loan

This is where the process really begins and R&R Mortgage can really save you money. You will supply details about your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. After we've reviewed the provided information, we'll provide a pre-qualification letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've made an offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can apply online, right here on our website. Finally, we'll order the appraisal of your new 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 once it has been approved. We'll coordinate with this company to ensure the papers your lender will need are available, and you will probably}likely sign all these papers at their office  We work with with the title company on your date to close. Since you will not have to worry about these details, you can concentrate on the move, painting, new carpet, and the fun parts of moving into your new home.

You've answered some few questions, given us lots of information, applied online, and before you know it, you're moving in! R&R Loans 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 R&R Loans at (916) 597-2858. We answer questions about the loan process every day.