About the Mortgage Loan Process
There's quite a lot involved in oder to get a mortgage. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in one day with 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.
There are four important steps involved in getting a mortgage loan.
Step one: Decide how much you can afford
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: pre-qualify for your loan
This is where Rainer Mortgage can start saving you money. You will provide details about your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we have reviewed this information we provide a pre-qualification letter. Be careful with this letter — it can be a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out your new home, we are finding the best loan program for you.
Step three: apply now! We make it easy
After you've signed 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 website. After the offer has been accepted and you have submitted your loan application, we will order a professional appraisal on the home.
Step four: your loan is funded
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's approved. We'll coordinate with this company to ensure all the papers your lender will require are in order, and you'll probably}likely sign everything at this company's officeWe coordinate with the title company on your date of closing. Since you will not need to coordinate this process, you can concentrate on moving logistics, painting, new carpet, and all the details of moving into a new house.
You've answered a few questions, provided detailed information, applied online, and Before you know it, you're moving! We take care of the loan details so you can focus on finding your new home.
Have questions about the loan process? Call Rainer Mortgage at (253) 862-0444. It's our job to answer lending questions, so we're happy to help!