About the Mortgage Loan Process
There's quite a lot involved in oder to get a mortgage loan. You would not be looking up loan information if you could get a loan in one day with a simple application. But Riviera Funding NMLS#861382 CA DRE Broker #01186669 does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in obtaining a loan.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. What kind of monthly payment are you looking for? 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: complete a pre-qualification
This is where Riviera Funding NMLS#861382 CA DRE Broker #01186669 will start to save you money. You will give us details on your employment, assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. When we review all this info we give you a letter of pre-qualification. Your real estate agent will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're picking out the home that's right for you, we are researching the loan that best fits your needs.
Once you have made an offer and the sellers have accepted, it's time to 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: funding
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 the papers your lender requires are in order, and you will probably}likely sign all these papers at their officeWe work with with the title company on your date to close. Since you won't need to worry with this coordination, you can concentrate on the move, if you're going to repaint, new carpet, and all the details of getting your new house.
You've answered a few questions, given us lots of information, applied , and the next thing you know, you're moving in! Riviera Funding NMLS#861382 CA DRE Broker #01186669 is in the business of mortgage loans; you're not — so we do the work. Doesn't that sound nice?
Have questions about the loan process? Call Riviera Funding NMLS#861382 CA DRE Broker #01186669 at 3103737406. We answer questions about the loan process every day.