How the Loan Process Works

There can be no doubt that getting a mortgage is a complex process. You would not be researching mortgage loans if you could get a mortgage loan in one day by filling out a simple application. But Firelight Mortgage Consultants does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in getting a loan.

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? 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. 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 begin saving you money. You will provide information on your employment, your assets, and residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. After we have gone over all this info we will give you a letter of pre-qualification. Your agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're picking out your new home, we are researching the best loan program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, it's time to complete the loan application. It couldn't be easier, and you can apply online, right here on our site. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: funding

Your REALTOR® and the seller's will coordinate to find a title company to handle the funding of your loan once it's approved. We'll work with this company to make sure the papers your lender needs are in order, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company to set your closing date. Because you will not need to worry with this coordination, you get to think about moving, painting, new carpet, and the fun parts of moving into a new home.

You've answered some few questions, provided lots of information, applied , and Before you know it, you'll be moving! Firelight Mortgage Consultants is in the business of 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.