How the Mortgage Loan Process Works
There's quite a lot to do in oder to get a mortgage. You wouldn't be visiting our website if you could complete a simple loan app and receive the best loan check cut the same day. But Firelight Mortgage Consultants does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in obtaining a mortgage 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? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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. 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 Firelight Mortgage Consultants will begin saving you money. You will give us details on your current job, assets, and residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. We'll review all this information then provide a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new home with your real estate agent, we find the best program for you.
After you've signed an offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't be much easier; you can apply right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.
Step four: your loan is funded
Your REALTOR® and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll coordinate with this company to ensure the papers your lender will need are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company to set your date of closing. Since you will not have to coordinate this process, you get to think about the move, paint colors, new carpet, and the fun parts of getting a new home.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving! We take care of the loan details so you can focus on finding your new home.
Have questions about the loan process? Call Firelight Mortgage Consultants at 7209331025. We answer questions about the loan process every day.