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10 Steps in Your RI & CT Homebuying Process Save Up for Your Down Payment and Closing Costs. ... Clean Up Your Credit. ... Determine How Much Home You Can Afford. ... Get Pre-Approved for a Mortgage. ... Shop for a CT or RI Home Within Your Budget. ... Make an Offer on the House You Want. ... Put a Deposit Down. ... Submit Your Mortgage Application.
Qualified Individual or Branch Manager. 1. Mortgage Lenders or Brokers. Any licensee that lends, brokers or services any mortgage loan must appoint a person that holds a valid Rhode Island Mortgage Loan Originator (?MLO?) license as the Qualified Individual or Branch Manager designated to operate the licensed business.