The Loan Process: an Overview
There's a lot involved when you get a mortgage. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day by filling out a simple application. But RPM Mortgage - Paul Schectman Senior Mortgage Advisor does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major steps.
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. 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 RPM Mortgage - Paul Schectman Senior Mortgage Advisor will begin saving you money. You will give us details on your employment, your assets, and residence history. You'll give us your employment, asset, and residence history information. We pull your credit score and report. We will review this info and will provide a letter of pre-qualification. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new home with your agent, we find the best program for you.
Once you've made the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't get 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
The agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to ensure all the papers your lender needs are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to coordinate with this company on your date to close. Because you will not need to worry with this coordination, you can concentrate on moving logistics, paint colors, new carpet, and all the details of getting your new house.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving in! RPM Mortgage - Paul Schectman Senior Mortgage Advisor is a mortgage specialist; you're not — so we take care of the details. Doesn't that make sense?
Have questions about the loan process? Call RPM Mortgage - Paul Schectman Senior Mortgage Advisor at 415-381-7006. RPM Mortgage - Paul Schectman Senior Mortgage Advisor answers loan process questions every day.
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