The Mortgage Loan Process: an Overview

There is no question that getting a mortgage is a complicated process. You wouldn't be looking up loan information if you could get a loan in one 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.

There are four important steps involved in obtaining a mortgage loan.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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 is where Firelight Mortgage Consultants will begin saving you money. You will provide info about your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. When we review all this information we will provide a letter of pre-qualification. 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 shopping for your new house with your agent, we find the best program for you.

Step three: apply for your loan

After you've made the offer and the sellers accept it, you should apply for the loan. Applying for a loan couldn't 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'll order a professional appraisal on the home.

Step four: funding

The agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure the papers your lender requires are avaiailable, and you will probably}likely sign everything at this company's officeWe do all the work to work with with the title company on your date to close. Because you will not have to worry with this coordination, you get to think about moving, if you're going to repaint, carpet, and all the details of getting a new house.

You've answered a few questions, provided lots of information, applied , and the next thing you know, you are moving 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 (303) 228-2254. Firelight Mortgage Consultants answers loan process questions every day.

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