About the Loan Process
No doubt, a lot involved when you get a mortgage. You wouldn't be researching mortgage loans if you could get a mortgage loan in a single 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.
Getting a home loan involves four major milestones.
Step one: determine how much you can borrow
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? You can get a good idea of your preferred payment abount using the calculators on our website. 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 is where the rubber meets the road and you save the most money. You will supply details about your current job, assets, and residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. Your REALTOR® should use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for your new house with your REALTOR™, we find the best program for you.
Once you have made the offer and the sellers have accepted, you should complete the loan application. It couldn't be easier, and you can do it online, right here on our site. Finally, we will order the appraisal of your new home.
Step four: your loan is funded
The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to make sure all the papers your lender will require are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company to set your closing date. Since you won't need to worry about these details, you can think about the move, if you're going to repaint, carpet, and the fun parts of getting your new home.
You've answered some few questions, given us detailed information, applied , and before you know it, you are deciding when to move in! We do the mortgage legwork so you can focus on finding your new home.
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.