How the Mortgage Loan Process Works

There is no doubt ; getting a mortgage is a complicated process. You wouldn't be here on our website if it were possible to complete a simple application and receive a great 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.

Getting a home loan involves four major steps.

Step one: determine how much you can borrow

This is a function of a couple things. 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? You can get a good idea of your preferred payment abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 step is where Firelight Mortgage Consultants will begin saving you money. You will supply details on your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We run your credit score and report. We'll review all this info and give you a letter of pre-qualification. Your REALTOR® should use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for your new home, we are finding the loan that best fits your needs.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, you should complete the loan application. It couldn't be easier, and you can do it online, right here on our site. Finally, we'll order an appraisal of your new home.

Step four: funding

The agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to ensure the papers your lender will need are avaiailable, and you will probably}likely sign all these papers at their officeWe coordinate with this company on your date of closing. Since you don't have to worry about these details, you get to think about moving, paint colors, new carpet, and the details involved in moving into a new house.

You've answered some few questions, provided detailed information, applied online, and the next thing you know, you are deciding when to move in! Firelight Mortgage Consultants is in the business of mortgage loans; you're not — so take care of the details. Makes sense, doesn't it??

Have questions about the loan process? Call Firelight Mortgage Consultants at 3032282254. We answer questions about the loan process every day.