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

Make no mistake, there's a lot involved in oder to get a mortgage. You wouldn't be here on our website if it were possible to fill out a simple loan app and get a great loan check cut 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 main steps involved in obtaining a loan.

Step one: determine how much you can borrow

A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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 process really begins and you save the most money. You will provide details on your current job, assets, and your residence history. You'll provide your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've finished reviewing this information, we'll give you 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. While you're shopping for the home that's right for you, we're busy finding the loan program that's right for you.

Step three: apply now! We make it easy

Once you've made an offer and it's been accepted, you should complete the loan application. It's very easy, and you can do it online, right here on our website. At the end of this step, we will order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will work together to find a title company to take care of the funding of your loan. We'll work with this company to make sure the papers your lender will need are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to coordinate with the title company to set your date to close. Because you will not need to worry with this coordination, you get to concentrate on moving logistics, if you're going to repaint, new carpet, and all the details of getting your new house.

You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving! We do the mortgage legwork so you can focus on finding the new home that's right for you.

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



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