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

There can be no doubt that getting a mortgage is a complex process. You wouldn't be visiting our website if you could fill out a simple application and receive a great loan check cut in one day. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a loan involves four major milestones.

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? 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 the process really begins and you save the most money. You will give us info on your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. We'll review this information then give you a letter of pre-qualification. Be careful with this letter — it is a useful tool when you make your offer! 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 deciding on the home that's right for you, we're busy researching the loan program that's just right for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our site. Finally, we'll order the appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to find a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to ensure all the papers your lender requires are in order, 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 of closing. Since you don't need to worry about these details, you can concentrate on the move, painting, carpet, and the fun parts of getting a new house.

You've answered some few questions, provided lots of information, applied online, and Before you know it, you're moving! We take care of the legwork so you can focus on finding your new home.

Have questions about the loan process? Call F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) at 214-300-8756. It's our job to answer lending questions, so we're happy to help!



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