About the Loan Process
There is little doubt ; getting a mortgage is a complex process. You would not be looking up loan information if it were possible to get a loan in one day by filling out a simple application. 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 milestones.
Step one: Decide how much you can afford
This is a function of a couple things. 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? You can get a good idea of your preferred payment abount using the calculators on our website. 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: complete a pre-qualification
This is where Riviera Funding NMLS#861382 CA DRE Broker #01186669 can begin to save you money. You will give us info about your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. After we've reviewed the provided information, we'll provide a pre-qualificaiton letter. Your REALTOR® should use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new home, we're busy finding the loan program that's right for your unique situation.
Once you have made the offer and the sellers have accepted, it's time to complete the loan application. It couldn't be easier, and you can apply online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order the professional appraisal on the home.
Step four: your loan is funded
The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to make sure all the papers your lender needs are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to coordinate with the title company on your date to close. Because you won't have to worry with this coordination, you can think about moving, painting, carpet, and the details involved in moving into a new house.
You've answered some few questions, given us detailed information, applied , and before you know it, you're deciding when to move in! We do the mortgage legwork so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Riviera Funding NMLS#861382 CA DRE Broker #01186669 at 3103737406. It's our job to answer lending questions, so we're happy to help!