The Loan Process: an Overview

Make no mistake, there's a lot to do when you get a mortgage loan. You would not be researching mortgage loans if it were possible to get a loan in a single day with a simple application. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a home loan involves four major milestones.

Step one: Decide how much you can afford

This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment abount using the calculators on our website. 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: pre-qualify for your loan

This is where the process really begins and you save the most money. You will provide info on your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). After we've finished reviewing this information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool for buying your new home! Your real estate agent will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new house with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and it's been accepted, it's time to apply for the loan. Applying for a loan could not get much easier; you can apply online right here on our site. When the time is right, we will order the appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to find an escrow/title company to handle the funding of your loan once it's approved. We'll work with this company to ensure the papers your lender requires are in order, and you will probably}likely sign everything at this company's officeWe coordinate with the title company on your closing date. Because you won't have to coordinate this process, you get to concentrate on moving logistics, painting, carpet, and the fun parts of moving into your new home.

You've answered some few questions, provided detailed information, applied online, and Before you know it, you're moving in! Firelight Mortgage Consultants is in the business of mortgage loans; you're not — so we do the work. Doesn't that sound nice?

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

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Firelight Mortgage Consultants

Company NMLS#: 381658

7887 East Belleview Ave Ste 1100
Englewood, CO 80111