An Overview of the Loan Process

There is no question that getting a mortgage is a complicated process. You would not be researching mortgage loans if it were possible to get a mortgage loan in a single 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.

Getting a home loan involves four major milestones.

Step one: determine how much you can borrow

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. 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: complete a pre-qualification

This is where Riviera Funding can start saving you money. You will give us information on your current job, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. We'll go over this info then give you a letter of pre-qualification. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for a new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our website. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to designate a title company to take care of the funding of your loan. We'll coordinate with this company to ensure all the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at their officeWe coordinate with the title company on your date of closing. Because you don't have to worry about these details, you can think about the move, if you're going to repaint, new carpet, and all the details of getting your new home.

You've answered some few questions, provided lots of information, applied online, and Before you know it, you'll be moving in! Riviera Funding is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Riviera Funding at (310) 373-7406. We answer questions about the loan process every day.

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