The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps

There can be little doubt that getting a mortgage is a complicated process. You wouldn't be visiting our website if it were possible to fill out a one-page loan app and get the best loan funded in one day. 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.

Getting a home loan involves four major steps.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? 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: pre-qualify for your loan

This is where Riviera Funding will start to save you money. You will give us information on your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. We'll review all this info and provide a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. While you're picking out your new home, we're busy researching the loan that's right for your unique situation.

Step three: apply for your loan

Once you've made the offer and the sellers have accepted, you should complete the loan application. Applying for your loan could not get much easier; you can apply any time right here on our site. When the time is right, we'll order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will work together to designate an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company on your closing date. Because you don't need to worry with this coordination, you get to concentrate on moving, painting, new carpet, and the fun parts of moving into a new house.

You've answered some few questions, provided detailed information, applied , and Before you know it, you're moving! Riviera Funding is in the business of mortgage loans; you're not — so take care of the details. Makes sense, doesn't it??

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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