How the Loan Process Works

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There is little question that getting a mortgage loan is a complex process. You wouldn't be visiting our website if you could fill out a simple loan app and receive the best loan check cut the same 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.

There are four primary steps involved in getting a loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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: complete a pre-qualification

This is where the process really begins and you save the most money. You will supply details about your current job, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). After we've reviewed this information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for your new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not get much easier; you can apply right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: funding

Your REALTOR® and the seller's will work together to find an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure the papers your lender will need are in order, and you'll probably}likely sign everything at their officeWe coordinate with this company to set your date to close. Since you won't need to coordinate this process, you get to think about moving logistics, painting, new carpet, and the details involved in moving into a new home.

You've answered some few questions, provided lots of information, applied , and Before you know it, you're moving! We do the legwork so you can focus on finding the new home that's right for you.

Have questions about the loan process? Call Reliant Mortgage Ltd at (214) 545-5700. Reliant Mortgage Ltd answers loan process questions every day.