The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps

There can be no question ; getting a mortgage loan is a complicated process. You wouldn't be looking up loan information if it were possible to get a loan in a single day by filling out a simple application. 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.

Getting a mortgage loan involves four major milestones.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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. 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 step is where Firelight Mortgage Consultants can start to save you money. You will give us info on your current job, assets, and residence history. You'll provide information on your employment, asset, and residence history. We pull your credit score and report. After we've reviewed this information, we'll provide you with a pre-qualificaiton letter. Your real estate agent will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for a new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

After you've signed an offer and the sellers accept it, it's time to apply for the loan. Applying for a loan couldn't be much easier; you can apply any time right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will work together to designate a title company to handle the funding of your loan. We'll work with this company to make sure the papers your lender will require are in order, and you'll probably}likely sign all these papers at their officeWe do all the work to work with with this company on your closing date. Because you will not need to worry with this coordination, you can concentrate on the move, paint colors, new carpet, and the details involved in moving into a new home.

You've answered some few questions, given us lots of information, applied , and before you know it, you are deciding when to move in! We take care of the loan details so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Firelight Mortgage Consultants at 7209331025. Firelight Mortgage Consultants answers loan process questions every day.