The Mortgage Loan Process: an Overview

There is no doubt that getting a mortgage loan is a complicated process. You wouldn't be visiting our website if it were possible to complete a one-page application and get 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 mortgage loan.

Step one: determine how much you can borrow

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. We'll also help you through different scenarios by asking a few simple questions. 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 step is where Firelight Mortgage Consultants will start saving you money. You will give us information on your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission. After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're deciding on your new home, we are researching the loan that best fits your needs.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers have accepted, you should apply for the loan. Applying for your loan couldn't be much easier; you can apply online right here on our site. At the end of this step, we'll order the appraisal of your new home.

Step four: funding

The real estate agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure the papers your lender requires are avaiailable, and you will probably}likely sign everything at their officeWe work with with this company to set your date of closing. Since you won't need to worry about these details, you can concentrate on moving logistics, if you're going to repaint, carpet, and all the details of getting a new home.

You've answered a few questions, given us lots of information, applied online, 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 Firelight Mortgage Consultants at 7209331025. It's our job to answer lending questions, so we're happy to help!