How the Mortgage Loan Process Works

There can be little question ; getting a mortgage loan is a complicated process. You wouldn't be here on our website if it were possible to complete a simple loan app and receive an excellent loan funded the same day. But F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in obtaining a mortgage 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? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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. 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: complete a pre-qualification

This is where the rubber meets the road and F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) can really save you money. You will provide information on your employment, assets, and your residence history. You'll give us 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 this information, we'll give you a pre-qualificaiton letter. Your real estate agent will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for your new home with your real estate agent, we find the best program for you.

Step three: apply for your loan

Once you have signed the offer and the sellers accept it, it's time to apply for the loan. Applying for a loan could not get 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 the professional appraisal on the home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure the papers your lender requires are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with this company on your closing date. Because you don't need to coordinate this process, you can think about moving, painting, new carpet, and the fun parts of moving into your new home.

You've answered some few questions, provided lots of information, applied online, and the next thing you know, you're moving in! F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) is in the business of loans; you're not — so we take care of the details. Doesn't that make sense?

Have questions about the loan process? Call F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) at 214-300-8756. We answer questions about the loan process every day.



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