An Overview of the Loan Process
No doubt, quite a lot involved in oder to get a mortgage. You wouldn't be visiting our website if it were possible to fill out a simple loan app and get a great loan funded 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 main steps involved in obtaining a loan.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. 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? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 Firelight Mortgage Consultants will start to save you money. You will provide information on your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool for buying your new home! 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 deciding on your new home, we're busy finding the loan that's right for your unique situation.
Once you've made an offer and it's been accepted, you should apply for the loan. Applying for a loan could not get much easier; you can apply right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order a professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will work together to decide on a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure all the papers your lender will need are avaiailable, and you will probably}likely sign all these papers 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 need to coordinate this process, you get to concentrate on moving logistics, painting, new carpet, and the fun parts of getting a new home.
You've answered some few questions, given us lots of information, applied online, and Before you know it, you're moving! 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 7209331025. It's our job to answer lending questions, so we're happy to help!