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

No doubt, quite a lot involved in oder to get a mortgage loan. You wouldn't be here on our website if it were possible to complete a one-page loan app and receive a great loan check cut 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 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? 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. 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: pre-qualify for your loan

This step is where Firelight Mortgage Consultants will start saving you money. You will supply information about your current job, 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 reviewed this information, we'll provide a pre-qualificaiton letter. Handle it with care — it is a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new house with your real estate agent, 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, you should apply for the loan. Applying for your loan couldn't be much easier; you can apply any time right here on our site. At the end of this step, we will order an appraisal of your new home.

Step four: funding

Your real estate agent 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 work with this company to ensure all the papers your lender will need are in order, and you will probably}likely sign everything at this company's officeWe coordinate with the title company to set your date of closing. Because you won't need to worry about these details, you get to concentrate on the move, if you're going to repaint, new carpet, and the details involved in moving into your new house.

You've answered some few questions, provided lots of information, applied online, and before you know it, you're deciding when to move in! Firelight Mortgage Consultants is in the business of loans; you're not — so take care of the details. Makes sense, doesn't it??

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

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Firelight Mortgage Consultants

Company NMLS#: 381658

7887 East Belleview Ave Ste 1100
Englewood, CO 80111